No Penalty u/s 271AAA on post search voluntarily disclosed income

Brief of the case:

The ITAT Kolkata in the above cited case held that if the additional income disclosed by assessee u/s 132(4) voluntarily without being any incriminating material found during the course of search , then department cannot levy penalty u/s 271AAA on such voluntarily disclosed income.

Facts of the case:

• A search operation was conducted in the business premises of the assessee o

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