https://www.taxtmi.com/caselaws?id=783812 Penalty under s. 271AAB(1A) was examined on whether the addition made u/s 69B r/w s. 115BBE constituted "undisclosed income" under Expln. (c) to s. 271AAB. The Tribunal held that the statutory definition mandates discovery, during a s. 132 search, of incriminating material representing the income (money/bullion/jewellery/valuable article) or reflected in entries/documents/transactions found in search. Since the quantum proceedings had already recorded a factual finding that no incriminating material was found to support the ?28 lakh addition, the amount could not qualify as "undisclosed income"; consequently, the penalty was unsustainable and was directed to be deleted, allowing the appeal. 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=783812 Penalty under s. 271AAB(1A) was examined on whether the addition made u/s 69B r/w s. 115BBE constituted "undisclosed income" under Expln. (c) to s. 271AAB. The Tribunal held that the statutory definition mandates discovery, during a s. 132 search, of incriminating material representing the income (money/bullion/jewellery/valuable article) or reflected in entries/documents/transactions found in search. Since the quantum proceedings had already recorded a factual finding that no incriminating material was found to support the ?28 lakh addition, the amount could not qualify as "undisclosed income"; consequently, the penalty was unsustainable and was directed to be deleted, allowing the appeal. Case-Laws Income Tax Fri, 19 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783812