https://www.taxtmi.com/caselaws?id=350577 The Tribunal ruled in favor of the appellant, holding that the surrender made during the search was genuine and based on seized material. The Tribunal found that the appellant's declared income was consistent with the assessed income by the AO, rejecting the imposition of penalty under section 271AAA. Consequently, the Tribunal directed the AO to delete the penalty, allowing the appellant's appeal. en-us Wed, 16 Aug 2017 00:00:00 +0530 Wed, 08 Nov 2017 11:52:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350577 The Tribunal ruled in favor of the appellant, holding that the surrender made during the search was genuine and based on seized material. The Tribunal found that the appellant's declared income was consistent with the assessed income by the AO, rejecting the imposition of penalty under section 271AAA. Consequently, the Tribunal directed the AO to delete the penalty, allowing the appellant's appeal. Case-Laws Income Tax Wed, 16 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350577