https://www.taxtmi.com/caselaws?id=294291 The Tribunal upheld the Commissioner of Income-tax (Appeals)'s decision to delete the penalty imposed under section 271AAA of the Income-tax Act. The Tribunal found that the assessee had disclosed the income, specified its derivation, and substantiated it with evidence, meeting the conditions of the Act. The Revenue's appeal was dismissed, affirming that the Commissioner's order was well-reasoned and did not warrant interference. The order was pronounced on May 4, 2016. en-us Wed, 04 May 2016 00:00:00 +0530 Sun, 04 Apr 2021 14:53:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294291 The Tribunal upheld the Commissioner of Income-tax (Appeals)'s decision to delete the penalty imposed under section 271AAA of the Income-tax Act. The Tribunal found that the assessee had disclosed the income, specified its derivation, and substantiated it with evidence, meeting the conditions of the Act. The Revenue's appeal was dismissed, affirming that the Commissioner's order was well-reasoned and did not warrant interference. The order was pronounced on May 4, 2016. Case-Laws Income Tax Wed, 04 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294291