https://www.taxtmi.com/caselaws?id=357247 The CIT(A) reversed the Assessing Officer's decision to levy a penalty under Section 271AAA of the Income Tax Act, 1961, on the assessee for failure to comply with certain provisions. The CIT(A) found that the assessee was not specifically asked to specify or substantiate the undisclosed income during the assessment proceedings. Citing judicial precedents, the CIT(A) held that the penalty was unjustified as the assessee had declared and paid taxes on the undisclosed income. The Tribunal upheld the CIT(A)'s decision, emphasizing the necessity for the Authorized Officer to question the assessee before shifting the onus. As a result, the penalty was deleted, and the Revenue's appeal was dismissed. en-us Fri, 16 Mar 2018 00:00:00 +0530 Tue, 20 Mar 2018 08:46:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357247 The CIT(A) reversed the Assessing Officer's decision to levy a penalty under Section 271AAA of the Income Tax Act, 1961, on the assessee for failure to comply with certain provisions. The CIT(A) found that the assessee was not specifically asked to specify or substantiate the undisclosed income during the assessment proceedings. Citing judicial precedents, the CIT(A) held that the penalty was unjustified as the assessee had declared and paid taxes on the undisclosed income. The Tribunal upheld the CIT(A)'s decision, emphasizing the necessity for the Authorized Officer to question the assessee before shifting the onus. As a result, the penalty was deleted, and the Revenue's appeal was dismissed. Case-Laws Income Tax Fri, 16 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357247