https://www.taxtmi.com/caselaws?id=331301 The Tribunal allowed the appeal and deleted the penalty imposed under Section 271AAA of the Income Tax Act, as the assessee had declared the undisclosed income during the search, paid the taxes, and the Assessing Officer did not inquire about the specific manner of deriving the income. The Tribunal found that the penalty was not justified in this case. en-us Tue, 28 Jun 2016 00:00:00 +0530 Fri, 19 Aug 2016 10:51:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331301 The Tribunal allowed the appeal and deleted the penalty imposed under Section 271AAA of the Income Tax Act, as the assessee had declared the undisclosed income during the search, paid the taxes, and the Assessing Officer did not inquire about the specific manner of deriving the income. The Tribunal found that the penalty was not justified in this case. Case-Laws Income Tax Tue, 28 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331301