Taxpayer Penalized u/s 271(1)(c) for Undisclosed Income; Section 271AAA Penalty Ruled Unsustainable by Commissioner.

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....Penalty levied u/s. 271(1)(c) - Income disclosed by the assessee in the Return of Income which is not part of Regular Accounts - CIT(A) directed the AO that levy penalty u/s. 271AAA cannot sustained - Hence the action of the Assessing Officer to sustain the penalty u/s 271(1)(c) levied in the revision order is upheld. - AT....