https://www.taxtmi.com/caselaws?id=281797 The Tribunal allowed the appeal, holding that the cash found in the bank locker represented the assessee's professional income for the relevant year and was not undisclosed income. As the assessee had explained the source of the cash and the return filing deadline had not passed during the search, the penalty under section 271AAB was deemed unwarranted. The penalty imposed by the Assessing Officer was deleted. en-us Wed, 07 Jun 2017 00:00:00 +0530 Sun, 07 Jul 2019 09:54:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281797 The Tribunal allowed the appeal, holding that the cash found in the bank locker represented the assessee's professional income for the relevant year and was not undisclosed income. As the assessee had explained the source of the cash and the return filing deadline had not passed during the search, the penalty under section 271AAB was deemed unwarranted. The penalty imposed by the Assessing Officer was deleted. Case-Laws Income Tax Wed, 07 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281797