https://www.taxtmi.com/caselaws?id=327300 The Tribunal upheld the decision of the Commissioner of Income-tax (Appeals), ruling that the penalty under section 271AAA was not applicable as the assessee qualified for immunity. The Tribunal emphasized the voluntary nature of the disclosure and the absence of incriminating material from the search. Citing judicial precedents, the Tribunal dismissed the Revenue's appeal, canceling the penalty imposed by the Assessing Officer. As a result, the assessee was granted immunity from the penalty under section 271AAA. en-us Fri, 15 Apr 2016 00:00:00 +0530 Sun, 08 May 2016 17:21:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327300 The Tribunal upheld the decision of the Commissioner of Income-tax (Appeals), ruling that the penalty under section 271AAA was not applicable as the assessee qualified for immunity. The Tribunal emphasized the voluntary nature of the disclosure and the absence of incriminating material from the search. Citing judicial precedents, the Tribunal dismissed the Revenue's appeal, canceling the penalty imposed by the Assessing Officer. As a result, the assessee was granted immunity from the penalty under section 271AAA. Case-Laws Income Tax Fri, 15 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327300