https://www.taxtmi.com/caselaws?id=303184 The Tribunal held that the penalty imposed under section 271AAB of the Income Tax Act was not sustainable due to a defective show cause notice and the additional income not meeting the definition of "undisclosed income." The Tribunal directed the Assessing Officer to delete the penalty, ruling in favor of the Assessee and allowing their appeal. en-us Wed, 19 Aug 2020 00:00:00 +0530 Thu, 07 Jul 2022 21:22:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303184 The Tribunal held that the penalty imposed under section 271AAB of the Income Tax Act was not sustainable due to a defective show cause notice and the additional income not meeting the definition of "undisclosed income." The Tribunal directed the Assessing Officer to delete the penalty, ruling in favor of the Assessee and allowing their appeal. Case-Laws Income Tax Wed, 19 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303184