https://www.taxtmi.com/caselaws?id=329976 The High Court upheld the Tribunal's decision regarding penalty under Section 271AAA of the Income Tax Act for Assessment Year 2008-09. The Court found that the Tribunal's conclusion that the respondent had not fully explained certain amounts, satisfying Section 271AAA(2) of the Act, was reasonable based on the facts. It was determined that the Assessing Officer had not provided sufficient reasons to support the non-compliance with Section 271AAA(2). The appeal was dismissed as the proposed questions did not raise substantial legal issues, and no costs were awarded. en-us Mon, 04 Jul 2016 00:00:00 +0530 Thu, 14 Jul 2016 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329976 The High Court upheld the Tribunal's decision regarding penalty under Section 271AAA of the Income Tax Act for Assessment Year 2008-09. The Court found that the Tribunal's conclusion that the respondent had not fully explained certain amounts, satisfying Section 271AAA(2) of the Act, was reasonable based on the facts. It was determined that the Assessing Officer had not provided sufficient reasons to support the non-compliance with Section 271AAA(2). The appeal was dismissed as the proposed questions did not raise substantial legal issues, and no costs were awarded. Case-Laws Income Tax Mon, 04 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329976