https://www.taxtmi.com/caselaws?id=178578 The appeals were directed against the order of the Ld CIT(A), Gurgaon dated 12.9.2013, challenging the deletion of penalties totaling Rs. 40,00,000 under section 271AAA of the IT Act. The Tribunal found that the assessee had fulfilled the conditions specified under sub-section (2) of section 271AAA by declaring the surrendered amount in the return, paying taxes, and not being specifically asked to disclose the manner of earning income. Consequently, all appeals of the Revenue and cross objections by the assessee were dismissed in the judgment pronounced on 28.10.2014. en-us Tue, 28 Oct 2014 00:00:00 +0530 Tue, 09 Feb 2016 10:23:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178578 The appeals were directed against the order of the Ld CIT(A), Gurgaon dated 12.9.2013, challenging the deletion of penalties totaling Rs. 40,00,000 under section 271AAA of the IT Act. The Tribunal found that the assessee had fulfilled the conditions specified under sub-section (2) of section 271AAA by declaring the surrendered amount in the return, paying taxes, and not being specifically asked to disclose the manner of earning income. Consequently, all appeals of the Revenue and cross objections by the assessee were dismissed in the judgment pronounced on 28.10.2014. Case-Laws Income Tax Tue, 28 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178578