https://www.taxtmi.com/caselaws?id=283782 The High Court upheld the deletion of a penalty under Section 271AAA of the Income Tax Act by the learned Tribunal. The court found that the assessee's failure to disclose the source of undisclosed income during a search did not warrant the penalty as the assessee was not questioned about the manner of deriving the income during the statement recording. The court relied on a previous ruling by the Division Bench and concluded that no substantial question of law arose, dismissing the Tax Appeal. en-us Tue, 10 Jul 2018 00:00:00 +0530 Fri, 24 Jan 2020 17:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283782 The High Court upheld the deletion of a penalty under Section 271AAA of the Income Tax Act by the learned Tribunal. The court found that the assessee's failure to disclose the source of undisclosed income during a search did not warrant the penalty as the assessee was not questioned about the manner of deriving the income during the statement recording. The court relied on a previous ruling by the Division Bench and concluded that no substantial question of law arose, dismissing the Tax Appeal. Case-Laws Income Tax Tue, 10 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283782