https://www.taxtmi.com/caselaws?id=374240 The Tribunal upheld the penalty imposed under section 271AAA for the assessment year 2009-10, except for certain items of income that did not qualify as 'undisclosed income.' The assessee's arguments for immunity under section 271AAA(2) and lack of proper satisfaction by the Assessing Officer were rejected. The Tribunal also restricted the Commissioner of Income Tax (Appeals)'s power to enhance the penalty to items considered by the Assessing Officer under section 271AAA. The appeal was partly allowed. en-us Fri, 18 Jan 2019 00:00:00 +0530 Wed, 20 Mar 2019 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374240 The Tribunal upheld the penalty imposed under section 271AAA for the assessment year 2009-10, except for certain items of income that did not qualify as 'undisclosed income.' The assessee's arguments for immunity under section 271AAA(2) and lack of proper satisfaction by the Assessing Officer were rejected. The Tribunal also restricted the Commissioner of Income Tax (Appeals)'s power to enhance the penalty to items considered by the Assessing Officer under section 271AAA. The appeal was partly allowed. Case-Laws Income Tax Fri, 18 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374240