https://www.taxtmi.com/caselaws?id=378190 The tribunal ruled in favor of the appellant, holding that the penalty under Section 271AAB is discretionary, not mandatory. They found that the excess stock and advances did not constitute undisclosed income under the section, leading to the deletion of the penalty amounting to Rs. 2,65,05,088. en-us Mon, 11 Feb 2019 00:00:00 +0530 Wed, 10 Apr 2019 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378190 The tribunal ruled in favor of the appellant, holding that the penalty under Section 271AAB is discretionary, not mandatory. They found that the excess stock and advances did not constitute undisclosed income under the section, leading to the deletion of the penalty amounting to Rs. 2,65,05,088. Case-Laws Income Tax Mon, 11 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378190