https://www.taxtmi.com/caselaws?id=368327 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to delete penalties imposed by the Assessing Officer under Section 271AAA of the Income Tax Act, 1961. The Tribunal found that the assessee had effectively complied with the immunity conditions specified in Section 271AAA(2)(ii) and that penalties were not warranted. The Tribunal emphasized that in the absence of specific inquiries by the Revenue regarding the undisclosed income, penalties cannot be imposed for non-fulfillment of conditions under Section 271AAA(2). The Revenue's appeals were dismissed, affirming the CIT(A)'s orders in both cases. en-us Thu, 04 Oct 2018 00:00:00 +0530 Fri, 05 Oct 2018 11:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368327 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to delete penalties imposed by the Assessing Officer under Section 271AAA of the Income Tax Act, 1961. The Tribunal found that the assessee had effectively complied with the immunity conditions specified in Section 271AAA(2)(ii) and that penalties were not warranted. The Tribunal emphasized that in the absence of specific inquiries by the Revenue regarding the undisclosed income, penalties cannot be imposed for non-fulfillment of conditions under Section 271AAA(2). The Revenue's appeals were dismissed, affirming the CIT(A)'s orders in both cases. Case-Laws Income Tax Thu, 04 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368327