https://www.taxtmi.com/caselaws?id=178149 The ITAT upheld the deletion of penalties u/s 271(1)(c) for assessment years 2001-02, 2002-03 & 2005-06. The assessee voluntarily disclosed additional incomes in response to notices issued u/s 153A after a search. The Tribunal affirmed CIT(A)'s decision, stating that once returns were filed u/s 153A, pending proceedings stood abated, and income had to be computed based on those returns only. As no further additions were made by the assessing officer, the penalties were deleted. The revenue's appeals were dismissed, and the decision was rendered on 30-09-2011. en-us Fri, 30 Sep 2011 00:00:00 +0530 Wed, 17 Feb 2016 19:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178149 The ITAT upheld the deletion of penalties u/s 271(1)(c) for assessment years 2001-02, 2002-03 & 2005-06. The assessee voluntarily disclosed additional incomes in response to notices issued u/s 153A after a search. The Tribunal affirmed CIT(A)'s decision, stating that once returns were filed u/s 153A, pending proceedings stood abated, and income had to be computed based on those returns only. As no further additions were made by the assessing officer, the penalties were deleted. The revenue's appeals were dismissed, and the decision was rendered on 30-09-2011. Case-Laws Income Tax Fri, 30 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178149