https://www.taxtmi.com/caselaws?id=177995 The appeal filed by the Revenue against the penalty levied under s. 271AAA of the IT Act, 1961 for the assessment year 2009-10 was dismissed. The assessee met all conditions under s. 271AAA by admitting undisclosed income, specifying income sources, paying tax with interest, and filing a revised return. The Tribunal upheld the CIT(A)'s decision to delete the penalty, emphasizing the validity of the revised return and compliance with penalty conditions. The erroneous focus on the original return by the AO was disregarded, and the Tribunal affirmed the decision to dismiss the penalty, resulting in the appeal's dismissal. en-us Tue, 05 Feb 2013 00:00:00 +0530 Fri, 02 Jun 2017 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177995 The appeal filed by the Revenue against the penalty levied under s. 271AAA of the IT Act, 1961 for the assessment year 2009-10 was dismissed. The assessee met all conditions under s. 271AAA by admitting undisclosed income, specifying income sources, paying tax with interest, and filing a revised return. The Tribunal upheld the CIT(A)'s decision to delete the penalty, emphasizing the validity of the revised return and compliance with penalty conditions. The erroneous focus on the original return by the AO was disregarded, and the Tribunal affirmed the decision to dismiss the penalty, resulting in the appeal's dismissal. Case-Laws Income Tax Tue, 05 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177995