https://www.taxtmi.com/caselaws?id=263004 The Tribunal upheld the CIT(A)'s order, dismissing the revenue's appeals and affirming the deletion of penalties under section 271(1)(c) for the assessment years 2005-06 and 2006-07. It was found that the additional income declared in response to notice u/s 153A was voluntary and not based on any incriminating material found during the search, leading to the conclusion that penalty under section 271(1)(c) is not applicable when the returned income filed u/s 153A is accepted without alteration. en-us Wed, 19 Aug 2015 00:00:00 +0530 Wed, 30 Dec 2015 16:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263004 The Tribunal upheld the CIT(A)'s order, dismissing the revenue's appeals and affirming the deletion of penalties under section 271(1)(c) for the assessment years 2005-06 and 2006-07. It was found that the additional income declared in response to notice u/s 153A was voluntary and not based on any incriminating material found during the search, leading to the conclusion that penalty under section 271(1)(c) is not applicable when the returned income filed u/s 153A is accepted without alteration. Case-Laws Income Tax Wed, 19 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263004