Assessment Year 2010-11 where in penalty levied u/s 271 AAA of the act
levied ... notice learned AO has also mentioned
section 271 AAA of the Act. Hence according to her here is no infirmity in
the notice
appellant will not get a
benefit of Sub clause -2 to Sec. 271 AAA since as per clause (ii)
of Sub-section (2) the appellant ... conditions are required to be satisfied in order
that provisions of Sec. 271 AAA don't come i nto play against the
assessee
271(l)(c) of the Act can be levied and that the A.O.
failed to take into account the provisions of section 271 AAA ... fact,
provisions of section 271 AAA of the Act are not applicable in the case of
assessee as the undisclosed income does not pertain
confirming the order of the AO by levying the penalty under section 271 AAA of the
Act.
4. The facts in brief are that ... assessee complied with the
conditions provided under subsection 2 of section 271 AAA of the Act.
9.4 The onus is on the Revenue Authorities
penalty u/s. 27lAAA in the instant cases are not
justified and as such, we cancel the penalty so
levied u/s. 271 AAA ... 2018
M/s Ronak Gems Pvt. Ltd.; AY 09-10
" Section 271AAA of the Income-tax Act, 1961 -
Penalty - Where search has been initiated
course of the search, in a statement under sub-section (4) of section
132 , admits the undisclosed income end specifies the manner in which such ... undisclosed income and exhibited
the nature thereof the penalty u/s 271 AAA cannot be levied if no further query
whatsoever has been asked
circumstances of the case and law on the
point, the penalty order u/s 271AAA of the Income ... erred in initiating and levying the penalty
u/s 271 AAA of the Income Tax Act, 1961 on 29.03.2017
amounting
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