https://www.taxtmi.com/caselaws?id=785653 Levy of penalty under section 271AAB(1A) requires the income to qualify as "undisclosed income" per the Explanation clause, meaning it must be represented by money, bullion, jewellery or other valuables, or be indicated by entries, documents or transactions found during a search. Where no incriminating material is found during search, the statutory condition for invoking the penalty is absent and the penalty cannot be sustained; consequently the penalty is to be deleted and the additional amount, if taxable, is assessed at the normal rate. en-us Fri, 19 Dec 2025 00:00:00 +0530 Thu, 29 Jan 2026 09:51:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785653 Levy of penalty under section 271AAB(1A) requires the income to qualify as "undisclosed income" per the Explanation clause, meaning it must be represented by money, bullion, jewellery or other valuables, or be indicated by entries, documents or transactions found during a search. Where no incriminating material is found during search, the statutory condition for invoking the penalty is absent and the penalty cannot be sustained; consequently the penalty is to be deleted and the additional amount, if taxable, is assessed at the normal rate. Case-Laws Income Tax Fri, 19 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785653