https://www.taxtmi.com/caselaws?id=266973 The Tribunal set aside the penalties imposed under Section 271(1)(c) for the assessment years 2007-08 to 2009-10, ruling in favor of the assessee. The penalties were deleted due to the lack of specific reference to seized documents, the voluntary nature of the income disclosure, and the improper invocation of Explanation 5A. The appeals filed by the assessee were allowed, and the penalties were consequently removed. en-us Wed, 23 Sep 2015 00:00:00 +0530 Wed, 28 Oct 2015 15:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266973 The Tribunal set aside the penalties imposed under Section 271(1)(c) for the assessment years 2007-08 to 2009-10, ruling in favor of the assessee. The penalties were deleted due to the lack of specific reference to seized documents, the voluntary nature of the income disclosure, and the improper invocation of Explanation 5A. The appeals filed by the assessee were allowed, and the penalties were consequently removed. Case-Laws Income Tax Wed, 23 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266973