https://www.taxtmi.com/caselaws?id=758181 The ITAT Delhi dismissed the Revenue's appeal regarding penalty under section 271AAB for unexplained cash commission expenses. The tribunal upheld CIT(A)'s finding that the AO failed to establish a direct link between the additional income disclosed by the assessee and any incriminating material found during the search proceedings. The court held that for imposing penalty under section 271AAB, the AO must demonstrate that the disclosed additional income correlates with seized materials from the search, which was not established in this case. en-us Fri, 06 Sep 2024 00:00:00 +0530 Mon, 09 Sep 2024 08:25:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758181 The ITAT Delhi dismissed the Revenue's appeal regarding penalty under section 271AAB for unexplained cash commission expenses. The tribunal upheld CIT(A)'s finding that the AO failed to establish a direct link between the additional income disclosed by the assessee and any incriminating material found during the search proceedings. The court held that for imposing penalty under section 271AAB, the AO must demonstrate that the disclosed additional income correlates with seized materials from the search, which was not established in this case. Case-Laws Income Tax Fri, 06 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758181