https://www.taxtmi.com/caselaws?id=287802 The Tribunal allowed the appeal in ITA No. 6614/DEL/2013, directing the Assessing Officer to delete the penalty under section 271AAA of the Income Tax Act, 1961, for the assessment year 2009-10. The Tribunal found merit in the contention that penalties imposed on other individuals in similar cases had been deleted by the Tribunal, emphasizing the disclosed manner of earning surrendered income by the assessee, substantiated by seized material. The penalty was deleted based on the parity of facts and circumstances with previous cases, as per the Tribunal's findings. en-us Wed, 18 Jul 2018 00:00:00 +0530 Mon, 04 May 2020 12:41:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287802 The Tribunal allowed the appeal in ITA No. 6614/DEL/2013, directing the Assessing Officer to delete the penalty under section 271AAA of the Income Tax Act, 1961, for the assessment year 2009-10. The Tribunal found merit in the contention that penalties imposed on other individuals in similar cases had been deleted by the Tribunal, emphasizing the disclosed manner of earning surrendered income by the assessee, substantiated by seized material. The penalty was deleted based on the parity of facts and circumstances with previous cases, as per the Tribunal's findings. Case-Laws Income Tax Wed, 18 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287802