https://www.taxtmi.com/caselaws?id=392485 The Tribunal upheld the penalty imposed under section 271AAB for the Assessment Year 2015-16. It dismissed the appeal challenging the initiation of penalty proceedings, stating that the charge was adequately specified in the show cause notice. Additionally, the Tribunal affirmed the levy of penalty, ruling that the disclosed income constituted undisclosed income as per the Act. The decision was pronounced on 05/02/2020. en-us Wed, 05 Feb 2020 00:00:00 +0530 Fri, 21 Feb 2020 12:38:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392485 The Tribunal upheld the penalty imposed under section 271AAB for the Assessment Year 2015-16. It dismissed the appeal challenging the initiation of penalty proceedings, stating that the charge was adequately specified in the show cause notice. Additionally, the Tribunal affirmed the levy of penalty, ruling that the disclosed income constituted undisclosed income as per the Act. The decision was pronounced on 05/02/2020. Case-Laws Income Tax Wed, 05 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392485