https://www.taxtmi.com/caselaws?id=278264 The ITAT upheld the CIT(A)'s decision to delete the penalty under section 271AAA of the Income-tax Act, 1961 for A.Y. 2010-2011. The ITAT found that the assessee disclosed the undisclosed income before receiving a notice under section 142(1), adequately explaining the source of income and satisfying the conditions of section 271AAA. The ITAT emphasized that the assessee's disclosure was comprehensive and fulfilled statutory requirements, ultimately dismissing the revenue's appeal and affirming the lower authority's decision. en-us Wed, 05 Mar 2014 00:00:00 +0530 Tue, 22 Jan 2019 07:51:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278264 The ITAT upheld the CIT(A)'s decision to delete the penalty under section 271AAA of the Income-tax Act, 1961 for A.Y. 2010-2011. The ITAT found that the assessee disclosed the undisclosed income before receiving a notice under section 142(1), adequately explaining the source of income and satisfying the conditions of section 271AAA. The ITAT emphasized that the assessee's disclosure was comprehensive and fulfilled statutory requirements, ultimately dismissing the revenue's appeal and affirming the lower authority's decision. Case-Laws Income Tax Wed, 05 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278264