https://www.taxtmi.com/caselaws?id=354574 The High Court upheld the Tribunal's decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act and convert it to section 271AAA. The Court found that the assessee disclosed the undisclosed income of Rs. 3 crores during search proceedings, provided all relevant details, paid taxes and interest, and met the conditions for immunity under section 271AAA(2). As the revenue did not challenge the conversion before the Tribunal, the Court concluded that no error was committed, and dismissed the appeal. en-us Wed, 24 Jan 2018 00:00:00 +0530 Wed, 31 Jan 2018 18:17:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354574 The High Court upheld the Tribunal's decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act and convert it to section 271AAA. The Court found that the assessee disclosed the undisclosed income of Rs. 3 crores during search proceedings, provided all relevant details, paid taxes and interest, and met the conditions for immunity under section 271AAA(2). As the revenue did not challenge the conversion before the Tribunal, the Court concluded that no error was committed, and dismissed the appeal. Case-Laws Income Tax Wed, 24 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354574