https://www.taxtmi.com/caselaws?id=776347 The ITAT Jaipur held that no penalty under section 43 read with section 46 of the Black Money Act was warranted where the appellant disclosed foreign income from US social security pension and tax paid thereon in the computation of total income, despite non-disclosure in the FA schedule. The department did not dispute the nature of income or tax payment. Given the disclosure of requisite information and absence of opposition from the department, the tribunal set aside the penalty imposed by the AO and the order of the CIT(A). en-us Wed, 30 Jul 2025 00:00:00 +0530 Fri, 08 Aug 2025 05:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776347 The ITAT Jaipur held that no penalty under section 43 read with section 46 of the Black Money Act was warranted where the appellant disclosed foreign income from US social security pension and tax paid thereon in the computation of total income, despite non-disclosure in the FA schedule. The department did not dispute the nature of income or tax payment. Given the disclosure of requisite information and absence of opposition from the department, the tribunal set aside the penalty imposed by the AO and the order of the CIT(A). Case-Laws Income Tax Wed, 30 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776347