https://www.taxtmi.com/caselaws?id=403855 The Tribunal partly allowed the appeal, deleting the penalty on cash advances and the difference in stock valuation but upheld the penalty on the cash amount found during the search. The Tribunal emphasized that the penalty under Section 271AAB is discretionary and must be based on the specific facts and circumstances of each case. en-us Mon, 11 Jan 2021 00:00:00 +0530 Wed, 10 Feb 2021 09:31:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403855 The Tribunal partly allowed the appeal, deleting the penalty on cash advances and the difference in stock valuation but upheld the penalty on the cash amount found during the search. The Tribunal emphasized that the penalty under Section 271AAB is discretionary and must be based on the specific facts and circumstances of each case. Case-Laws Income Tax Mon, 11 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403855