https://www.taxtmi.com/caselaws?id=219006 The Tribunal dismissed the revenue's appeal against the CIT(A)'s order, upholding the deletion of the penalty under section 271AAA of the IT Act for the assessment year 2009-10. The CIT(A) based the decision on the voluntary disclosure of income during search proceedings, payment of tax on the disclosed income, and the absence of specific questions regarding the undisclosed income's manner of earning. The Tribunal agreed with the CIT(A)'s reasoning, emphasizing that when undisclosed income is admitted, offered for tax, and tax is paid, penalty cannot be imposed without specific questioning by authorities. en-us Fri, 20 Jul 2012 00:00:00 +0530 Wed, 19 Sep 2012 15:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219006 The Tribunal dismissed the revenue's appeal against the CIT(A)'s order, upholding the deletion of the penalty under section 271AAA of the IT Act for the assessment year 2009-10. The CIT(A) based the decision on the voluntary disclosure of income during search proceedings, payment of tax on the disclosed income, and the absence of specific questions regarding the undisclosed income's manner of earning. The Tribunal agreed with the CIT(A)'s reasoning, emphasizing that when undisclosed income is admitted, offered for tax, and tax is paid, penalty cannot be imposed without specific questioning by authorities. Case-Laws Income Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219006