https://www.taxtmi.com/caselaws?id=374227 The Tribunal upheld the penalty imposed on undisclosed income of Rs. 75,00,000/- under section 271AAB(1)(a) of the Income Tax Act, 1961. It dismissed the assessee's cross-objections, ruling that the penalty was validly imposed and not exempt under the principle of "buying peace." The Tribunal emphasized adherence to binding judicial precedents and correct statutory interpretation. en-us Fri, 25 Jan 2019 00:00:00 +0530 Tue, 29 Jan 2019 07:30:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374227 The Tribunal upheld the penalty imposed on undisclosed income of Rs. 75,00,000/- under section 271AAB(1)(a) of the Income Tax Act, 1961. It dismissed the assessee's cross-objections, ruling that the penalty was validly imposed and not exempt under the principle of "buying peace." The Tribunal emphasized adherence to binding judicial precedents and correct statutory interpretation. Case-Laws Income Tax Fri, 25 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374227