https://www.taxtmi.com/caselaws?id=359318 The Tribunal dismissed the Revenue's appeal and allowed the assessee's cross-objection, deleting the penalty imposed by the Assessing Officer under section 271(1)(c) of the IT Act. The Tribunal upheld the CIT(A)'s findings that the assessee qualified for immunity from penalty as they voluntarily disclosed income and paid due taxes before the deadline. The penalty on additional income and unexplained expenditures was also invalidated due to jurisdictional issues. en-us Thu, 05 Apr 2018 00:00:00 +0530 Fri, 27 Apr 2018 08:27:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359318 The Tribunal dismissed the Revenue's appeal and allowed the assessee's cross-objection, deleting the penalty imposed by the Assessing Officer under section 271(1)(c) of the IT Act. The Tribunal upheld the CIT(A)'s findings that the assessee qualified for immunity from penalty as they voluntarily disclosed income and paid due taxes before the deadline. The penalty on additional income and unexplained expenditures was also invalidated due to jurisdictional issues. Case-Laws Income Tax Thu, 05 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359318