ACIT vs Bhavi Chand Jindal

Authority: ITAT Tribunal/Court: Delhi Date: 2018-04-17 AY: 2012-13 Section: 271AAA(2)(ii), 132, 271AAA Acts: Income Tax Act 1961 Result: Assessee Citation: 418Taxpundit234 Justices: H.S. SIDHU JM & L.P. SAHU AM Appeal No: I.T.A. No. 6810/Del/2015
Whether penalty u/s 271AAA can be levied when the assessee disclosed additional income during search but did not substantiate the manner of earning it without specific queries from authorities --- Held No, penalty deleted.

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