https://www.taxtmi.com/caselaws?id=784484 Penalty under s. 271AAB(1A)(b) was in issue where additional income was stated in a search statement under s. 132(4) but not reflected in the return for the relevant AY. The Tribunal held that "undisclosed income" unearthed as a result of search is a sine qua non for invoking s. 271AAB(1A)(b); in the absence of any incriminating material found during search, a mere admission later retracted cannot sustain the penalty, particularly when no direct search material established receipt of unreported income. Consequently, deletion of the penalty by the CIT(A) was upheld and the Revenue's appeal was dismissed. en-us Tue, 23 Dec 2025 00:00:00 +0530 Tue, 06 Jan 2026 08:47:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784484 Penalty under s. 271AAB(1A)(b) was in issue where additional income was stated in a search statement under s. 132(4) but not reflected in the return for the relevant AY. The Tribunal held that "undisclosed income" unearthed as a result of search is a sine qua non for invoking s. 271AAB(1A)(b); in the absence of any incriminating material found during search, a mere admission later retracted cannot sustain the penalty, particularly when no direct search material established receipt of unreported income. Consequently, deletion of the penalty by the CIT(A) was upheld and the Revenue's appeal was dismissed. Case-Laws Income Tax Tue, 23 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784484