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2019 (10) TMI 997 - AT - Income TaxPenalty u/s 271AAB - surrender of income during the search and seizure action - HELD THAT:- Tribunal in case of Shri Surajmal Bansal HUF and others including Shri Navneet Bansal Vs DCIT who is husband of the assessee, has considered the issue of levy of penalty U/s 271AAB of the Act arising from the disclosure and surrender made by the other family members of the assessee under the same search and seizure action conducted on 05/02/2015. In the case in hand, the surrender was made in respect of entries found regarding the advance in names of certain persons for land and otherwise which are identical entries as in case of other family members and particularly in the case of the husband of the assessee Shri Navneet Bansal Vs. DCIT [2019 (4) TMI 1113 - ITAT JAIPUR] decided the leviability of penalty U/s 271AAB of the Act in the identical facts and circumstances and considering this issue as common in respect of all the four appeals of the family members and the HUF. Following the earlier order of this Tribunal passed in the identical facts and circumstances of the case, penalty levied in the present appeal U/s 271AAB of the Act is deleted. - Decided in favour of assessee
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