Penalty u/s 271AAB Unjustified Due to Lack of Incriminating Material; Section 68 Additions Insufficient Basis.

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....Levy of penalty u/s 271AAB - Undisclosed Income - since no incriminating material was found during research carried out on group of cases on 03.07.2012, which could have formed the basis of addition in our considered view, penalty could not have been imposed under section 271AAB of the Act only on the basis of addition on account of cash credits u/s 68 found during the course of assessment proceedings. - AT....