https://www.taxtmi.com/caselaws?id=57784 Section 158BFA(2) was treated as a penal provision requiring strict construction, and ambiguity in the charging language was resolved in favour of the taxpayer. The proviso was held to state only when penalty shall not be imposed, not to create automatic liability whenever its conditions were unmet. On the facts, the assessee had filed the return, substantially disclosed the undisclosed income, accepted the additions, and the delay was short, so the penalty was found not sustainable and was cancelled. en-us Tue, 21 Dec 2004 00:00:00 +0530 Wed, 19 Jun 2024 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57784 Section 158BFA(2) was treated as a penal provision requiring strict construction, and ambiguity in the charging language was resolved in favour of the taxpayer. The proviso was held to state only when penalty shall not be imposed, not to create automatic liability whenever its conditions were unmet. On the facts, the assessee had filed the return, substantially disclosed the undisclosed income, accepted the additions, and the delay was short, so the penalty was found not sustainable and was cancelled. Case-Laws Income Tax Tue, 21 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57784