https://www.taxtmi.com/caselaws?id=187305 The Tribunal found that the penalty imposed under section 271(1)(c) of the Income Tax Act was not justified as the undisclosed income voluntarily declared in response to the notice under section 153A was accepted in the assessment. The Tribunal held that the original return of income filed under section 139 could not be considered post a search assessment under section 153A. Consequently, the Tribunal directed the Assessing Officer to delete the penalties imposed in the respective years, allowing the appeals in favor of the assessee. en-us Fri, 25 Jul 2014 00:00:00 +0530 Tue, 18 Oct 2016 10:38:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187305 The Tribunal found that the penalty imposed under section 271(1)(c) of the Income Tax Act was not justified as the undisclosed income voluntarily declared in response to the notice under section 153A was accepted in the assessment. The Tribunal held that the original return of income filed under section 139 could not be considered post a search assessment under section 153A. Consequently, the Tribunal directed the Assessing Officer to delete the penalties imposed in the respective years, allowing the appeals in favor of the assessee. Case-Laws Income Tax Fri, 25 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187305