https://www.taxtmi.com/caselaws?id=281078 The Tribunal upheld the penalty imposed under section 271AAB despite a defective penalty notice issued under section 271AAA. It found the assessee's participation in the proceedings indicated an understanding of the charge. The Tribunal determined that the undisclosed income admitted by the assessee met the conditions for penalty under section 271AAB, including specifying the manner of earning, paying tax, and filing returns. Procedural requirements were deemed to have been followed, and the Assessing Officer had jurisdiction to impose the penalty. The Tribunal dismissed the appeals, affirming the penalty under section 271AAB. en-us Fri, 15 Feb 2019 00:00:00 +0530 Sat, 01 Jun 2019 20:22:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281078 The Tribunal upheld the penalty imposed under section 271AAB despite a defective penalty notice issued under section 271AAA. It found the assessee's participation in the proceedings indicated an understanding of the charge. The Tribunal determined that the undisclosed income admitted by the assessee met the conditions for penalty under section 271AAB, including specifying the manner of earning, paying tax, and filing returns. Procedural requirements were deemed to have been followed, and the Assessing Officer had jurisdiction to impose the penalty. The Tribunal dismissed the appeals, affirming the penalty under section 271AAB. Case-Laws Income Tax Fri, 15 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281078