https://www.taxtmi.com/caselaws?id=772351 The ITAT Jaipur allowed the assessee's appeal against penalty u/s 271(1)(c). The assessee had filed a revised return under section 153A offering additional income before the search notice was issued. The tribunal found no evidence linking the additional income to seized materials and noted that the assessment order accepted the revised return as filed. Following the Delhi HC precedent in Neeraj Jindal case, the tribunal held that when a revised return under section 153A is accepted by the Assessing Officer, penalty under section 271(1)(c) cannot be automatically imposed merely because it shows higher income than the original return. en-us Tue, 29 Apr 2025 00:00:00 +0530 Sat, 07 Jun 2025 08:32:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772351 The ITAT Jaipur allowed the assessee's appeal against penalty u/s 271(1)(c). The assessee had filed a revised return under section 153A offering additional income before the search notice was issued. The tribunal found no evidence linking the additional income to seized materials and noted that the assessment order accepted the revised return as filed. Following the Delhi HC precedent in Neeraj Jindal case, the tribunal held that when a revised return under section 153A is accepted by the Assessing Officer, penalty under section 271(1)(c) cannot be automatically imposed merely because it shows higher income than the original return. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772351