https://www.taxtmi.com/caselaws?id=381679 The Gujarat High Court affirmed the decisions of the CIT(A) and ITAT, dismissing the Revenue's appeal. It was held that the assessee fulfilled all conditions under Section 271AAA(2) of the Income Tax Act. The Court emphasized that the assessee had specified and substantiated the undisclosed income during search proceedings, and the payment of taxes before assessment proceedings met the requirements for immunity from penalty. The Court relied on precedent cases to support its decision, ultimately upholding the deletion of the penalty imposed under Section 271AAA. en-us Mon, 10 Jun 2019 00:00:00 +0530 Tue, 23 Jul 2019 16:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381679 The Gujarat High Court affirmed the decisions of the CIT(A) and ITAT, dismissing the Revenue's appeal. It was held that the assessee fulfilled all conditions under Section 271AAA(2) of the Income Tax Act. The Court emphasized that the assessee had specified and substantiated the undisclosed income during search proceedings, and the payment of taxes before assessment proceedings met the requirements for immunity from penalty. The Court relied on precedent cases to support its decision, ultimately upholding the deletion of the penalty imposed under Section 271AAA. Case-Laws Income Tax Mon, 10 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381679