https://www.taxtmi.com/caselaws?id=785439 Article addresses penalty under section 271AAA in the context of disclosure during search. It explains that where an assessee admits undisclosed income during search, explains the manner and source of earnings, includes that disclosure in the return of income, and pays tax with interest, the three statutory criteria for exemption from penalty are satisfied; consequence: penalty under 271AAA is not leviable. Reliance on prior decisions accepting inclusion of search disclosures in the return and tax payment as negating penalty is noted as supporting authority for that effect. en-us Tue, 20 Jan 2026 00:00:00 +0530 Fri, 23 Jan 2026 09:10:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785439 Article addresses penalty under section 271AAA in the context of disclosure during search. It explains that where an assessee admits undisclosed income during search, explains the manner and source of earnings, includes that disclosure in the return of income, and pays tax with interest, the three statutory criteria for exemption from penalty are satisfied; consequence: penalty under 271AAA is not leviable. Reliance on prior decisions accepting inclusion of search disclosures in the return and tax payment as negating penalty is noted as supporting authority for that effect. Case-Laws Income Tax Tue, 20 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785439