https://www.taxtmi.com/caselaws?id=218092 The ITAT upheld the CIT(A)'s decision regarding the addition of undisclosed income during a survey under the Income-tax Act, 1961. The appellant's argument that the income was disclosed to avoid penalty was rejected, emphasizing that the Assessing Officer must independently evaluate penalty proceedings. As the undisclosed income was accepted voluntarily by the Director, the addition made by the AO was confirmed. The ITAT affirmed the separate consideration of penalty proceedings and dismissed the appeal, concluding that the penalty was not imposed on the undisclosed income. en-us Fri, 12 Oct 2012 00:00:00 +0530 Thu, 01 Nov 2012 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218092 The ITAT upheld the CIT(A)'s decision regarding the addition of undisclosed income during a survey under the Income-tax Act, 1961. The appellant's argument that the income was disclosed to avoid penalty was rejected, emphasizing that the Assessing Officer must independently evaluate penalty proceedings. As the undisclosed income was accepted voluntarily by the Director, the addition made by the AO was confirmed. The ITAT affirmed the separate consideration of penalty proceedings and dismissed the appeal, concluding that the penalty was not imposed on the undisclosed income. Case-Laws Income Tax Fri, 12 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218092