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2020 (8) TMI 33 - AT - Income TaxPenalty u/s 271AAB - assessee as a result of search has disclosed an income in the return filed in response to the notice issued under section 153A - HELD THAT:- Statement furnished by the assessee under section 132(4) of the Act, during the search proceedings and note that even in the statement there was no reference to any such material found during the course of search for the income disclosed by the assessee in response to the notice issued under section 153A. As such the voluntary income was disclosed by the assessee and the addition made by the AO was without having found any incriminating document in the course of search. There was no reference made by the authorities below to the documents of incriminating nature having bearing on the income of the assessee in their respective orders. The ld. DR has not advanced any arguments against the contentions raised by the assessee. There cannot be any penalty under the provisions of section 271AAB of the Act. - Decided in favour of assessee.
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