https://www.taxtmi.com/caselaws?id=209399 The Tribunal set aside the penalty imposed under Section 158BFA(2) as no evidence of undisclosed income was found during the search operation. Relying on precedents, the Tribunal emphasized that undisclosed income must be determined based on evidence discovered during the search. Since no such evidence was found, the penalty was deemed unsustainable, and the assessee's appeal was allowed. en-us Mon, 31 May 2010 00:00:00 +0530 Sat, 20 Jul 2013 14:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209399 The Tribunal set aside the penalty imposed under Section 158BFA(2) as no evidence of undisclosed income was found during the search operation. Relying on precedents, the Tribunal emphasized that undisclosed income must be determined based on evidence discovered during the search. Since no such evidence was found, the penalty was deemed unsustainable, and the assessee's appeal was allowed. Case-Laws Income Tax Mon, 31 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209399