https://www.taxtmi.com/caselaws?id=783309 ITAT Mumbai-AT allowed the assessee's appeals and deleted penalties imposed under ss. 271(1)(c), 270A and 271AAB. It held that additions arose from disallowance of expenditure and income already declared in returns filed u/s 153A, with no nexus to any incriminating material found during search, rendering penalty u/s 271(1)(c) unsustainable. Penalties u/s 270A were held inapplicable as additions were based on estimated disallowances without rejection of books u/s 145(3), and self-disallowances were duly explained, attracting exclusions in s. 270A(6). Penalty u/s 271AAB was also invalid, as no falsity in expenditure or income was detected during search, and statutory conditions for "undisclosed income" were not satisfied. en-us Tue, 02 Dec 2025 00:00:00 +0530 Sat, 13 Dec 2025 08:28:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783309 ITAT Mumbai-AT allowed the assessee's appeals and deleted penalties imposed under ss. 271(1)(c), 270A and 271AAB. It held that additions arose from disallowance of expenditure and income already declared in returns filed u/s 153A, with no nexus to any incriminating material found during search, rendering penalty u/s 271(1)(c) unsustainable. Penalties u/s 270A were held inapplicable as additions were based on estimated disallowances without rejection of books u/s 145(3), and self-disallowances were duly explained, attracting exclusions in s. 270A(6). Penalty u/s 271AAB was also invalid, as no falsity in expenditure or income was detected during search, and statutory conditions for "undisclosed income" were not satisfied. Case-Laws Income Tax Tue, 02 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783309