https://www.taxtmi.com/caselaws?id=388078 The Tribunal allowed the appeal, deleting the penalty levied under section 271AAB, as the expenses were recorded in the books and not found to be false. The admissions made during the search were to avoid litigation, which does not justify the penalty under section 271AAB. The appeal of the assessee was allowed. en-us Wed, 30 Oct 2019 00:00:00 +0530 Wed, 05 Feb 2020 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388078 The Tribunal allowed the appeal, deleting the penalty levied under section 271AAB, as the expenses were recorded in the books and not found to be false. The admissions made during the search were to avoid litigation, which does not justify the penalty under section 271AAB. The appeal of the assessee was allowed. Case-Laws Income Tax Wed, 30 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388078