https://www.taxtmi.com/caselaws?id=354636 The High Court upheld the deletion of penalty under section 271AAA of the Income Tax Act, 1961, finding that the conditions for immunity were satisfied by the assessee. The Court dismissed the appeal, affirming the Tribunal's decision that the undisclosed income was disclosed during the search and received as on-money. Both the Commissioner (Appeals) and the Tribunal concluded that the conditions under section 271AAA were met based on the partner's statement and timely payment of tax and interest. en-us Mon, 22 Jan 2018 00:00:00 +0530 Thu, 08 Mar 2018 14:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354636 The High Court upheld the deletion of penalty under section 271AAA of the Income Tax Act, 1961, finding that the conditions for immunity were satisfied by the assessee. The Court dismissed the appeal, affirming the Tribunal's decision that the undisclosed income was disclosed during the search and received as on-money. Both the Commissioner (Appeals) and the Tribunal concluded that the conditions under section 271AAA were met based on the partner's statement and timely payment of tax and interest. Case-Laws Income Tax Mon, 22 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354636