https://www.taxtmi.com/caselaws?id=282414 The Tribunal dismissed the Revenue's appeal, affirming the deletion of the penalty by the Ld. CIT(A) for the assessment years 2011-12. The Tribunal held that as the assessee had surrendered additional income, paid taxes, and no specific queries were raised during the search, the penalty could not be sustained. Relying on the principle of accepting the view favorable to the assessee when two views are possible, the Tribunal upheld the deletion of the penalty based on previous decisions and the similar case involving the brother of the assessee. en-us Wed, 06 Feb 2019 00:00:00 +0530 Wed, 07 Aug 2019 08:40:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282414 The Tribunal dismissed the Revenue's appeal, affirming the deletion of the penalty by the Ld. CIT(A) for the assessment years 2011-12. The Tribunal held that as the assessee had surrendered additional income, paid taxes, and no specific queries were raised during the search, the penalty could not be sustained. Relying on the principle of accepting the view favorable to the assessee when two views are possible, the Tribunal upheld the deletion of the penalty based on previous decisions and the similar case involving the brother of the assessee. Case-Laws Income Tax Wed, 06 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282414