https://www.taxtmi.com/caselaws?id=381066 The Tribunal upheld the penalty imposed under Section 271AAB, finding no infirmity in the order of the CIT(A). The Tribunal dismissed the appellant's grounds, stating that the penalty provisions under Section 271AAB were applicable as the appellant admitted the undisclosed income, specified the manner of earning, and paid the tax along with interest. The Tribunal also found that the initial reference to Section 271AAA did not invalidate the proceedings, and the AO had the requisite jurisdiction to impose the penalty. The appeal of the assessee was dismissed. en-us Fri, 31 May 2019 00:00:00 +0530 Mon, 03 Jun 2019 09:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381066 The Tribunal upheld the penalty imposed under Section 271AAB, finding no infirmity in the order of the CIT(A). The Tribunal dismissed the appellant's grounds, stating that the penalty provisions under Section 271AAB were applicable as the appellant admitted the undisclosed income, specified the manner of earning, and paid the tax along with interest. The Tribunal also found that the initial reference to Section 271AAA did not invalidate the proceedings, and the AO had the requisite jurisdiction to impose the penalty. The appeal of the assessee was dismissed. Case-Laws Income Tax Fri, 31 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381066