restricting the penalty levied by Assessing Officer u/s 271AAA of the Act at
Rs.11,36,560/- as against the penalty levied ... case, the learned CIT(A) erred in
confirming the penalty u/s. 271AAA of the Income-tax Act, 1961, to the extent
penalty order dated 12.03.2018 passed by the Assessing
Officer (AO) under Section 271AAA of the Income Tax Act,
1961 (the Act) concerning ... holding the penalty imposed by the Assessing
Officer under Section 271AAA of the Act on account of
I.T.As No.813/Del/2019
uphol di ng the penal t y l evi ed u/s 271AAA of the
I ncome Ta x Act, 1961 ( i n short ... Revenue al so. Ho wever, penal t y u/s 271AAA was i ni tiated
3
and thereafter levi ed for the reason that
2009-10 levied u/s.271AAA of the
I.T.Act, despite assessee having not satisfied the conditions mentioned
in clause ... Sect6ion 271AAA(2) of the Act."
2. In this case a search was conducted in the case of all family members
of Shri Kiritbhai
erred in deleting penalty levied
u/s.271AAA without appreciating the fact that assessee had
failed to explain the source of the unexplained expenditure ... erred in deleting penalty levied
u/s.271AAA without appreciating the fact that the
substantive addition in the case of the assessee
Page No 2
DCIT vs. M/s. Manan Corporation
under section 271AAA of the Income Tax Act, 1961; in short ... further initiated the impugned
section 271AAA penalty proceedings alleging that assessee's
disclosure of Rs. 1.5 crores did not justify the manner and
substantiate
Sh. Ajay Goel, Shimla vs Dcit, Chandigarh on 13 June, 2018
IN THE INCOME TAX
M/S Ajay Kumar Sood Engineers & ... vs Dcit, Chandigarh on 13 June, 2018
IN
Jai Narayan Chouksey, Bhopal vs The Acit 2(1), Bhopal on 25 January, 2023
IN
This issue attracts Penalty u/s 271AAA of the I.T. Act, 1961 as the assessee fails to
substantiate the manner in which the undisclosed
