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2016 (1) TMI 799 - AT - Income TaxPenalty u/s 158BFA(2) - undisclosed income - Held that:- There is no consideration by the A.O. in his penalty order, that the said declared undisclosed income of ₹ 30 lac had been covered by the conditions laid down-in the first proviso to section 158 BFA(2). The A.O. has to take that into account. Otherwise, find that no additional undisclosed income had been actually determined as any positive detection beyond what had been disclosed in the return by the appellant. - Decided in favour of assessee.
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