https://www.taxtmi.com/caselaws?id=421408 The Tribunal allowed the Assessee's appeal regarding the penalty under section 271(1)(c) of the Income Tax Act, as the return was filed within the due date, directing the deletion of the penalty. Additionally, the Tribunal dismissed the Revenue's appeal concerning the addition of unaccounted cash and jewelry found during the search, as these amounts had already been taxed by the Settlement Commission, preventing double taxation. The Court pronounced the order on 20/04/2022 in Ahmedabad. en-us Wed, 20 Apr 2022 00:00:00 +0530 Sat, 23 Apr 2022 08:35:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421408 The Tribunal allowed the Assessee's appeal regarding the penalty under section 271(1)(c) of the Income Tax Act, as the return was filed within the due date, directing the deletion of the penalty. Additionally, the Tribunal dismissed the Revenue's appeal concerning the addition of unaccounted cash and jewelry found during the search, as these amounts had already been taxed by the Settlement Commission, preventing double taxation. The Court pronounced the order on 20/04/2022 in Ahmedabad. Case-Laws Income Tax Wed, 20 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421408