https://www.taxtmi.com/caselaws?id=385837 The Tribunal upheld the penalty under Section 271AAB, confirming that the specific admission of undisclosed income and discrepancies in the books of account constituted sufficient incriminating material. Both appeals filed by the assessees were dismissed, affirming the orders of the lower authorities. The judgment emphasized that the specific unretracted admission of undisclosed income during the search was the best evidence against the assessee, justifying the levy of penalty. en-us Tue, 30 Apr 2019 00:00:00 +0530 Sat, 14 Sep 2019 12:53:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385837 The Tribunal upheld the penalty under Section 271AAB, confirming that the specific admission of undisclosed income and discrepancies in the books of account constituted sufficient incriminating material. Both appeals filed by the assessees were dismissed, affirming the orders of the lower authorities. The judgment emphasized that the specific unretracted admission of undisclosed income during the search was the best evidence against the assessee, justifying the levy of penalty. Case-Laws Income Tax Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385837