https://www.taxtmi.com/caselaws?id=330440 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal against the penalty imposed under section 271AAA for the assessment year 2012-13. The CIT(A) found that the assessee had fulfilled the necessary conditions for claiming immunity under section 271AAA(2) by admitting the undisclosed income, specifying the derivation method, substantiating it, and paying taxes. The Revenue's plea to reinstate the penalty was rejected as it failed to provide material to challenge the CIT(A)'s findings. en-us Thu, 16 Jun 2016 00:00:00 +0530 Tue, 26 Jul 2016 11:49:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330440 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal against the penalty imposed under section 271AAA for the assessment year 2012-13. The CIT(A) found that the assessee had fulfilled the necessary conditions for claiming immunity under section 271AAA(2) by admitting the undisclosed income, specifying the derivation method, substantiating it, and paying taxes. The Revenue's plea to reinstate the penalty was rejected as it failed to provide material to challenge the CIT(A)'s findings. Case-Laws Income Tax Thu, 16 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330440