https://www.taxtmi.com/caselaws?id=361246 The Tribunal upheld the decision of the Ld. CIT(A) to cancel the penalty under section 271AAA. The Tribunal found that the assessee substantiated the manner of earning the undisclosed income, despite no specific queries raised during the assessment proceedings. The Tribunal considered relevant case laws and concluded that the penalty deletion was justified based on the facts presented. This case emphasizes the significance of providing adequate evidence and explanations in tax matters to avoid penalties. en-us Tue, 17 Apr 2018 00:00:00 +0530 Mon, 04 Jun 2018 06:46:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361246 The Tribunal upheld the decision of the Ld. CIT(A) to cancel the penalty under section 271AAA. The Tribunal found that the assessee substantiated the manner of earning the undisclosed income, despite no specific queries raised during the assessment proceedings. The Tribunal considered relevant case laws and concluded that the penalty deletion was justified based on the facts presented. This case emphasizes the significance of providing adequate evidence and explanations in tax matters to avoid penalties. Case-Laws Income Tax Tue, 17 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361246