https://www.taxtmi.com/caselaws?id=373892 The Tribunal partly allowed the assessee's appeal, sustaining the penalty on cash found during the search but deleting the penalty on other surrendered items. The penalty proceedings were deemed valid despite the initial lack of specificity in the notice, as the final penalty order specified charges clearly. The Tribunal emphasized the discretionary nature of penalties under Section 271AAB, requiring a case-by-case assessment. en-us Fri, 11 Jan 2019 00:00:00 +0530 Tue, 22 Jan 2019 08:05:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373892 The Tribunal partly allowed the assessee's appeal, sustaining the penalty on cash found during the search but deleting the penalty on other surrendered items. The penalty proceedings were deemed valid despite the initial lack of specificity in the notice, as the final penalty order specified charges clearly. The Tribunal emphasized the discretionary nature of penalties under Section 271AAB, requiring a case-by-case assessment. Case-Laws Income Tax Fri, 11 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373892