https://www.taxtmi.com/caselaws?id=71861 The Tribunal ruled in favor of the assessee, determining that the income declared for the assessment year should not be treated as undisclosed income under Section 158BB(1)(c) of the IT Act. Consequently, the penalty under Section 158BFA(2) was deemed unjustified and cancelled. The direction by the CIT(A) to charge interest under Section 158BFA(1) was quashed as it exceeded jurisdiction and was not supported by proper reasoning. en-us Thu, 25 Mar 2004 00:00:00 +0530 Wed, 27 Apr 2011 15:19:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71861 The Tribunal ruled in favor of the assessee, determining that the income declared for the assessment year should not be treated as undisclosed income under Section 158BB(1)(c) of the IT Act. Consequently, the penalty under Section 158BFA(2) was deemed unjustified and cancelled. The direction by the CIT(A) to charge interest under Section 158BFA(1) was quashed as it exceeded jurisdiction and was not supported by proper reasoning. Case-Laws Income Tax Thu, 25 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71861