https://www.taxtmi.com/caselaws?id=759431 The ITAT Delhi held that penalty under section 271AAB(1A)(b) cannot be levied when the assessee made suo moto disallowance of personal expenses in the return filed pursuant to section 153A notice. The tribunal found no concealment was detected in the search assessment. Following the Delhi HC precedent in Neeraj Jindal case, the penalty levy was deleted as the issue was no longer res-integra. en-us Thu, 26 Sep 2024 00:00:00 +0530 Mon, 30 Sep 2024 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759431 The ITAT Delhi held that penalty under section 271AAB(1A)(b) cannot be levied when the assessee made suo moto disallowance of personal expenses in the return filed pursuant to section 153A notice. The tribunal found no concealment was detected in the search assessment. Following the Delhi HC precedent in Neeraj Jindal case, the penalty levy was deleted as the issue was no longer res-integra. Case-Laws Income Tax Thu, 26 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759431