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![No Penalty merely on basis of Admission during Search without Incriminating Materials: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/03/site-image3-9-2.jpg "No Penalty merely on basis of Admission during Search without Incriminating Materials: ITAT [Read Order]")
No Penalty merely on basis of Admission during Search without Incriminating Materials: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty under section 271(c)(1) of the Income Tax Act cannot be made...