https://www.taxtmi.com/caselaws?id=393318 The Tribunal allowed all 11 appeals filed by the assessees, holding that penalties under section 271(1)(C) and section 271AAB were not applicable as the disclosed income was voluntary and not based on incriminating material found during the search. The Tribunal directed the AO to delete the penalties imposed on the appellants. en-us Mon, 06 Jan 2020 00:00:00 +0530 Thu, 12 Mar 2020 11:24:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393318 The Tribunal allowed all 11 appeals filed by the assessees, holding that penalties under section 271(1)(C) and section 271AAB were not applicable as the disclosed income was voluntary and not based on incriminating material found during the search. The Tribunal directed the AO to delete the penalties imposed on the appellants. Case-Laws Income Tax Mon, 06 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393318