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2018 (8) TMI 1311 - AT - Income TaxLevy of penalty u/s 271AAA - additions on account of unaccounted receipts derived from land trading and commission income - onus to prove the ‘manner’ in which the undisclosed income has been derived and ‘substantiation’ thereof - Assessee contended that no specific question was asked to the assessee with regard to the manner of deriving income and substantiation thereof while recording the statement under s. 132(4) of the Act or at any later stage in the course of assessment proceedings. The learned AR thus submitted that without being put to query on this subject it was not possible for the assessee to visualize the same. Held that:- In the absence of any evidence or record to show that any specific query made to the assessee and in the absence of any query on the manner and substantiation thereof, the allegation for non-fulfillment of condition of Section 271AAA(2) of the Act does not survive. In view of the binding precedent delivered by Hon’ble Gujarat High Court the onus would shift on the assessee to specify the manner of earning undisclosed income and substantiation thereof only upon requisite inquiry in this regard. In the absence of any inquiry in this regard, the assessee cannot be blamed for non-satisfaction of the exit clause provide under s. 271AAA(2) of the Act. - No penalty - Decided against the revenue.
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