https://www.taxtmi.com/caselaws?id=126813 The court clarified penalty provisions under Section 158BFA(2) of the Income Tax Act, emphasizing the Second Proviso's application when undisclosed income exceeds the declared income in the return. Penalty was rightly imposed on the excess undisclosed income determined by the Assessing Officer, exceeding the income declared. The Tribunal's decision quantifying the penalty on the excess undisclosed income was upheld, dismissing the appeal and ensuring compliance with statutory provisions. en-us Fri, 05 Oct 2007 00:00:00 +0530 Sat, 19 Jan 2013 13:13:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126813 The court clarified penalty provisions under Section 158BFA(2) of the Income Tax Act, emphasizing the Second Proviso's application when undisclosed income exceeds the declared income in the return. Penalty was rightly imposed on the excess undisclosed income determined by the Assessing Officer, exceeding the income declared. The Tribunal's decision quantifying the penalty on the excess undisclosed income was upheld, dismissing the appeal and ensuring compliance with statutory provisions. Case-Laws Income Tax Fri, 05 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126813