https://www.taxtmi.com/caselaws?id=257328 The Tribunal held that the penalty under Section 271AAA could not be sustained for the entire undisclosed income of Rs. 15,30,00,000 as penalty proceedings were initiated only for specific additions. The penalty for the addition of Rs. 30,00,000 was deleted, and the penalty for the addition of Rs. 1,86,01,810 was also deleted due to lack of specific questions regarding the manner of earning undisclosed income. The appeal of the assessee was allowed, and the penalty under Section 271AAA was deleted. en-us Thu, 19 Feb 2015 00:00:00 +0530 Tue, 10 Mar 2015 06:04:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257328 The Tribunal held that the penalty under Section 271AAA could not be sustained for the entire undisclosed income of Rs. 15,30,00,000 as penalty proceedings were initiated only for specific additions. The penalty for the addition of Rs. 30,00,000 was deleted, and the penalty for the addition of Rs. 1,86,01,810 was also deleted due to lack of specific questions regarding the manner of earning undisclosed income. The appeal of the assessee was allowed, and the penalty under Section 271AAA was deleted. Case-Laws Income Tax Thu, 19 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257328