https://www.taxtmi.com/caselaws?id=344501 The Tribunal reduced the penalty imposed under Section 271AAA of the Income Tax Act to 10% of the unexplained investment found during the search, amounting to Rs. 7,22,967. This decision provided the assessee with relief of Rs. 35,10,172, as the penalty was initially levied at Rs. 42,33,139. The appeal filed by the assessee was partly allowed, and the order was pronounced on April 3, 2017. en-us Mon, 03 Apr 2017 00:00:00 +0530 Mon, 08 Aug 2022 15:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344501 The Tribunal reduced the penalty imposed under Section 271AAA of the Income Tax Act to 10% of the unexplained investment found during the search, amounting to Rs. 7,22,967. This decision provided the assessee with relief of Rs. 35,10,172, as the penalty was initially levied at Rs. 42,33,139. The appeal filed by the assessee was partly allowed, and the order was pronounced on April 3, 2017. Case-Laws Income Tax Mon, 03 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344501