https://www.taxtmi.com/highlights?id=54567 Penalty u/s 271(1)(c) - There cannot be a penalty merely on the basis that the assessee has disclosed income after receiving the notice from the ADIT and the income was accepted during survey proceedings - No incriminating documents discovered during the course of survey at the premises of the assessee. Similarly, the additional income offered by the assessee in return filed in response to notice under section 148 of the Act admitted as it is by the AO. - No penalty - AT en-us Tue, 01 Sep 2020 13:36:16 +0530 Tue, 01 Sep 2020 13:36:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=54567 Penalty u/s 271(1)(c) - There cannot be a penalty merely on the basis that the assessee has disclosed income after receiving the notice from the ADIT and the income was accepted during survey proceedings - No incriminating documents discovered during the course of survey at the premises of the assessee. Similarly, the additional income offered by the assessee in return filed in response to notice under section 148 of the Act admitted as it is by the AO. - No penalty - AT Highlights Income Tax Tue, 01 Sep 2020 13:36:16 +0530 https://www.taxtmi.com/highlights?id=54567