https://www.taxtmi.com/caselaws?id=341280 The Tribunal upheld the decision of the ld.CIT(A) to delete the penalty under section 271AAA of the Income Tax Act. The appellant fulfilled the requirements of section 271AAA(2) by declaring additional income during the search and substantiating the manner of earning it. The Tribunal found that the husband's disclosure and substantiation of income fulfilled the conditions, leading to the deletion of the penalty. The Revenue's appeal was dismissed, affirming the deletion of the penalty under section 271AAA. en-us Mon, 03 Apr 2017 00:00:00 +0530 Wed, 05 Apr 2017 10:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341280 The Tribunal upheld the decision of the ld.CIT(A) to delete the penalty under section 271AAA of the Income Tax Act. The appellant fulfilled the requirements of section 271AAA(2) by declaring additional income during the search and substantiating the manner of earning it. The Tribunal found that the husband's disclosure and substantiation of income fulfilled the conditions, leading to the deletion of the penalty. The Revenue's appeal was dismissed, affirming the deletion of the penalty under section 271AAA. Case-Laws Income Tax Mon, 03 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341280