https://www.taxtmi.com/caselaws?id=377441 Penalty under section 271AAA was not attracted where the assessee disclosed additional income in search-related assessment proceedings and placed an explanation of the items comprising the disclosure on record. Following its earlier decision on identical facts, the ITAT held that acceptance of the disclosure together with the stated source and manner of earning was sufficient to deny penalty. The penalty was therefore cancelled. en-us Wed, 27 Mar 2019 00:00:00 +0530 Fri, 29 Mar 2019 09:01:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377441 Penalty under section 271AAA was not attracted where the assessee disclosed additional income in search-related assessment proceedings and placed an explanation of the items comprising the disclosure on record. Following its earlier decision on identical facts, the ITAT held that acceptance of the disclosure together with the stated source and manner of earning was sufficient to deny penalty. The penalty was therefore cancelled. Case-Laws Income Tax Wed, 27 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377441