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of <h1>Delhi HC upholds ITAT decision, dismisses Revenue's penalty appeal for AY 2010-2011</h1> <h3>PRINCIPAL COMMISSIONER OF INCOME 'TAX (CENTRAL) - 1 Versus M/s EMIRATES TECHNOLOGIES PVT. LTD.</h3> The Delhi HC dismissed the Revenue's appeal against the ITAT's order deleting penalty under Section 271AAA for AY 2010-2011. The Court held that the ... Penalty u/s 271AAA - manner of undisclosed income derived - jurisdictional requirement - ITAT deleting the penalty imposed - Held that:-As no specific query had been put to the Assessee by drawing his attention to Section 271 AAA of the Act asking him to specify the manner in which the undisclosed income, surrendered during the course of search, had been derived. The CIT (A), therefore, relying on the decisions of this Court correctly held that the jurisdictional requirement of Section 271AAA was not met and also crightly confimed by ITAT - Decided against revenue. The Delhi High Court dismissed the Revenue's appeal against the order of the Income Tax Appellate Tribunal regarding the deletion of penalty under Section 271AAA for Assessment Year 2010-2011. The Court found that the jurisdictional requirement of Section 271AAA was not met as no specific query was put to the Assessee. The decision of the CIT(A) and ITAT was considered plausible, and no substantial question of law arose for consideration.
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