https://www.taxtmi.com/caselaws?id=178021 Undisclosed income found in block assessment from search material and follow-up enquiry can attract penalty under section 158BFA(2) where the statutory exceptions do not apply. The text states that the income was traced to seized computer and server records, the quantum addition had already been upheld, and the assessee had returned nil undisclosed income, so the proviso did not exempt penalty. Mere admission or pendency of the quantum appeal before the High Court did not by itself bar penalty, though any later success in that appeal could have consequential effect. en-us Thu, 30 Jun 2011 00:00:00 +0530 Wed, 27 Jan 2016 11:15:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178021 Undisclosed income found in block assessment from search material and follow-up enquiry can attract penalty under section 158BFA(2) where the statutory exceptions do not apply. The text states that the income was traced to seized computer and server records, the quantum addition had already been upheld, and the assessee had returned nil undisclosed income, so the proviso did not exempt penalty. Mere admission or pendency of the quantum appeal before the High Court did not by itself bar penalty, though any later success in that appeal could have consequential effect. Case-Laws Income Tax Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178021