https://www.taxtmi.com/caselaws?id=381530 The Tribunal ruled in favor of the appellant, setting aside the penalty imposed under section 271AAA for undisclosed income. The decision was based on the finding that the penalty was not sustainable due to the erroneous assessment of tax payments by the ld. CIT (A). The Tribunal highlighted the importance of timely payment of taxes and interest on undisclosed income while emphasizing the need for accurate evaluation before imposing penalties under the Income-tax Act. en-us Mon, 10 Jun 2019 00:00:00 +0530 Thu, 13 Jun 2019 06:44:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381530 The Tribunal ruled in favor of the appellant, setting aside the penalty imposed under section 271AAA for undisclosed income. The decision was based on the finding that the penalty was not sustainable due to the erroneous assessment of tax payments by the ld. CIT (A). The Tribunal highlighted the importance of timely payment of taxes and interest on undisclosed income while emphasizing the need for accurate evaluation before imposing penalties under the Income-tax Act. Case-Laws Income Tax Mon, 10 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381530