https://www.taxtmi.com/caselaws?id=760680 The High Court dismissed the appeal, upholding the ITAT's decision to levy a penalty under Section 271AAA of the Income Tax Act. The Court concluded that the appellant failed to meet the requirements for penalty exemption, as they did not specify and substantiate the manner of deriving undisclosed income during the search. en-us Thu, 09 May 2024 00:00:00 +0530 Fri, 25 Oct 2024 08:10:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760680 The High Court dismissed the appeal, upholding the ITAT's decision to levy a penalty under Section 271AAA of the Income Tax Act. The Court concluded that the appellant failed to meet the requirements for penalty exemption, as they did not specify and substantiate the manner of deriving undisclosed income during the search. Case-Laws Income Tax Thu, 09 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760680