Despite voluntary surrunder penalty u/s 271(1)(c) is justified if surrunder made after incriminating material is found

Income Tax Appellate Tribunal, Delhi IT APPEAL NOS. 3036 & 4083 (DELHI) OF 2007- [ASSESSMENT YEAR 2001-02] Date of Decision – DECEMBER 16, 2011 Sanjay Enterprises (P.) Ltd. v. Income-tax Officer ORDER A.N. Pahuja, Accountant Member – These two appeals – quantum appeal filed on 19.6.2007 against an order dated 30.11.2005 & penalty appeal filed on 10.10.2007 against an order dated 16th July, 2007 of the learned CIT(A)-X, New Delhi, raise the following grounds:- ITA no. 3036/Del/07 1. “The learned Commissioner of Income Tax (Appeals)-X & the l...