https://www.taxtmi.com/caselaws?id=381846 The Tribunal concluded that the penalty under Section 271AAB is discretionary, emphasizing the importance of considering the facts and circumstances of each case. The Tribunal partially allowed the appeal, setting aside the penalty on certain grounds and remanding the issue of penalty on jewellery and silver items to the AO for fresh consideration. en-us Mon, 17 Jun 2019 00:00:00 +0530 Thu, 20 Jun 2019 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381846 The Tribunal concluded that the penalty under Section 271AAB is discretionary, emphasizing the importance of considering the facts and circumstances of each case. The Tribunal partially allowed the appeal, setting aside the penalty on certain grounds and remanding the issue of penalty on jewellery and silver items to the AO for fresh consideration. Case-Laws Income Tax Mon, 17 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381846