Disclosure During Search Not Enough to Invoke Section 271AAB, Penalty Set Aside

Rajeswara Rao Anne Vs DCIT (ITAT Hyderabad)

Voluntary Disclosure ≠ “Undisclosed Income”: 271AAB Penalty Deleted on ₹24 Lakh

The Hyderabad ‘A’ Bench of the ITAT, in Rajeswara Rao Anne vs DCIT (ITA No. 1438/Hyd/2025, AY 2019-20), deleted the penalty levied u/s 271AAB(1A) on ₹24 lakh which was offered by the Assessee during the course of search. A search u/s 132 conducted on 05.10.2018 resulted i

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