https://www.taxtmi.com/caselaws?id=353494 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act. It was found that the additional income was voluntarily disclosed without incriminating material, and the explanation provided was satisfactory. The Tribunal distinguished the case from MAK Data Pvt. Ltd., stating that penalty conditions were not met as there were no discrepancies in the books of account or evidence of false explanations. The Revenue's appeals were dismissed. en-us Wed, 23 Aug 2017 00:00:00 +0530 Fri, 05 Jan 2018 09:14:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353494 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act. It was found that the additional income was voluntarily disclosed without incriminating material, and the explanation provided was satisfactory. The Tribunal distinguished the case from MAK Data Pvt. Ltd., stating that penalty conditions were not met as there were no discrepancies in the books of account or evidence of false explanations. The Revenue's appeals were dismissed. Case-Laws Income Tax Wed, 23 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353494