https://www.taxtmi.com/caselaws?id=248374 The ITAT upheld the decision of the Ld. CIT(A) in a case involving challenges to the order on the ground of being time-barred under section 158BFA(2) and the levying of a penalty of Rs. 58,000 for undisclosed income related to unexplained jewelry. The appellant's arguments were dismissed, and the penalty was confirmed based on the unexplained portion of jewelry and relevant guidelines. The appeal was dismissed, affirming the penalty under section 158BFA(2) of Rs. 58,000. en-us Fri, 23 May 2014 00:00:00 +0530 Wed, 11 Jun 2014 11:00:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248374 The ITAT upheld the decision of the Ld. CIT(A) in a case involving challenges to the order on the ground of being time-barred under section 158BFA(2) and the levying of a penalty of Rs. 58,000 for undisclosed income related to unexplained jewelry. The appellant's arguments were dismissed, and the penalty was confirmed based on the unexplained portion of jewelry and relevant guidelines. The appeal was dismissed, affirming the penalty under section 158BFA(2) of Rs. 58,000. Case-Laws Income Tax Fri, 23 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248374