https://www.taxtmi.com/caselaws?id=398447 The ITAT Jaipur allowed the appeal, ruling in favor of the assessee and directing the deletion of the penalty imposed under Explanation 5A to Section 271(1)(c) of the Income Tax Act, 1961. The decision was based on the absence of incriminating material during the search, the bonafide nature of the mistake, and the strict interpretation of penalty provisions. en-us Tue, 01 Sep 2020 00:00:00 +0530 Wed, 16 Sep 2020 13:09:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398447 The ITAT Jaipur allowed the appeal, ruling in favor of the assessee and directing the deletion of the penalty imposed under Explanation 5A to Section 271(1)(c) of the Income Tax Act, 1961. The decision was based on the absence of incriminating material during the search, the bonafide nature of the mistake, and the strict interpretation of penalty provisions. Case-Laws Income Tax Tue, 01 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398447