https://www.taxtmi.com/caselaws?id=783817 Penalty under section 271AAB(1A) was not sustainable where the income in question was not supported by any incriminating material found during search. The Tribunal noted that, in the quantum proceedings, the addition had already been found to lack search-based evidence, and the statutory definition of undisclosed income under the Explanation to section 271AAB requires money, bullion, jewellery, valuable articles, entries, documents, transactions, or false expense entries discovered in the search. As that foundation was absent, the condition for levy of penalty was not met, and the penalty was deleted in favour of the assessee. en-us Fri, 19 Dec 2025 00:00:00 +0530 Tue, 23 Dec 2025 07:59:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783817 Penalty under section 271AAB(1A) was not sustainable where the income in question was not supported by any incriminating material found during search. The Tribunal noted that, in the quantum proceedings, the addition had already been found to lack search-based evidence, and the statutory definition of undisclosed income under the Explanation to section 271AAB requires money, bullion, jewellery, valuable articles, entries, documents, transactions, or false expense entries discovered in the search. As that foundation was absent, the condition for levy of penalty was not met, and the penalty was deleted in favour of the assessee. Case-Laws Income Tax Fri, 19 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783817