https://www.taxtmi.com/caselaws?id=430787 The court ruled in favor of the appellant, finding insufficient evidence to support the claim of undisclosed income and ownership of land. The court noted discrepancies in the Assessing Officer's calculations and lack of concrete evidence linking the appellant to any undisclosed income. The penalty confirmation under section 158BFA (2) was deemed unjustified due to the absence of valid evidence. The court allowed the appeal, answered questions of law in favor of the appellant, and ruled against the Revenue without imposing costs. en-us Tue, 18 Oct 2022 00:00:00 +0530 Thu, 06 Feb 2025 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430787 The court ruled in favor of the appellant, finding insufficient evidence to support the claim of undisclosed income and ownership of land. The court noted discrepancies in the Assessing Officer's calculations and lack of concrete evidence linking the appellant to any undisclosed income. The penalty confirmation under section 158BFA (2) was deemed unjustified due to the absence of valid evidence. The court allowed the appeal, answered questions of law in favor of the appellant, and ruled against the Revenue without imposing costs. Case-Laws Income Tax Tue, 18 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430787