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 on 11.9.2009.In the course of search some transaction books of the assessee broking co. were seized. The assessee filed its return of income on 25.9.2009 declaring total loss of Rs. 6,71,01,221/-Pursuant...