https://www.taxtmi.com/caselaws?id=198584 The Tribunal dismissed the Revenue's appeal against the deletion of the penalty under section 271AAA of the Income Tax Act. The penalty was initially imposed by the Assessing Officer but was later deleted by the ld.CIT(A) after finding that the conditions for immunity under section 271AAA(2) were met by the assessee. The Tribunal upheld this decision, emphasizing that the assessee had admitted to undisclosed income, specified the earning manner to a certain extent, and fulfilled the tax payment requirement, leading to the deletion of the penalty. en-us Thu, 06 Apr 2017 00:00:00 +0530 Mon, 05 Feb 2018 07:04:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198584 The Tribunal dismissed the Revenue's appeal against the deletion of the penalty under section 271AAA of the Income Tax Act. The penalty was initially imposed by the Assessing Officer but was later deleted by the ld.CIT(A) after finding that the conditions for immunity under section 271AAA(2) were met by the assessee. The Tribunal upheld this decision, emphasizing that the assessee had admitted to undisclosed income, specified the earning manner to a certain extent, and fulfilled the tax payment requirement, leading to the deletion of the penalty. Case-Laws Income Tax Thu, 06 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198584