https://www.taxtmi.com/caselaws?id=266736 The Tribunal allowed the Revenue's appeal, upholding the penalty of Rs. 10,85,180/- under section 158BFA(2) of the Income-tax Act. The Tribunal found that incriminating documents linked to the assessee justified the penalty, despite the additional income being declared later to avoid litigation. The Tribunal emphasized that the penalty provision applied as the assessed income exceeded the declared income, and the issue was not debatable. The decision was influenced by relevant case law, including a Gujarat High Court decision. en-us Fri, 11 Sep 2015 00:00:00 +0530 Fri, 23 Oct 2015 11:09:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266736 The Tribunal allowed the Revenue's appeal, upholding the penalty of Rs. 10,85,180/- under section 158BFA(2) of the Income-tax Act. The Tribunal found that incriminating documents linked to the assessee justified the penalty, despite the additional income being declared later to avoid litigation. The Tribunal emphasized that the penalty provision applied as the assessed income exceeded the declared income, and the issue was not debatable. The decision was influenced by relevant case law, including a Gujarat High Court decision. Case-Laws Income Tax Fri, 11 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266736