Penalty u/s 271AAA Upheld for Undisclosed Income Declared Post-Search, Lacking Substantiation and Evidence.

Penalty u/s 271AAA Upheld for Undisclosed Income Declared Post-Search, Lacking Substantiation and Evidence. https://www.taxtmi.com/highlights?id=66669 Penalty u/s 271AAA - declaration of undisclosed income - voluntary or not - CIT(A) confirmed the levy of penalty - income was declared in the ITR post search but not u/s 132(4) - The assessee failed to support its claim and no material is placed before us to rebut the finding of learned CIT(Appeals) - Levy of Penalty confirmed - AT en-us Mon, 21 Nov 2022 09:54:30 +0530 Mon, 21 Nov 2022 09:54:30 +0530 TaxTMI RSS Generator Penalty u/s 271AAA Upheld for Undisclosed Income Declared Post-Search, Lacking Substantiation and Evidence. https://www.taxtmi.com/highlights?id=66669 Penalty u/s 271AAA - declaration of undisclosed income - voluntary or not - CIT(A) confirmed the levy of penalty - income was declared in the ITR post search but not u/s 132(4) - The assessee failed to support its claim and no material is placed before us to rebut the finding of learned CIT(Appeals) - Levy of Penalty confirmed - AT Highlights Income Tax Mon, 21 Nov 2022 09:54:30 +0530 https://www.taxtmi.com/highlights?id=66669