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2018 (10) TMI 293 - AT - Income TaxPenalty u/s 271AAA - absence of any specific inquiry - manner of earning undisclosed income and substantiation thereof - Held that:- In the absence of any evidence on record to show that any specific query was made to the assessee in this regard, the allegation for non-fulfillment of condition of Section 271AAA(2) of the Act does not survive. In view of the binding precedent, 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 specific inquiry, the assessee cannot be blamed for non-furnishing of manner of earning undisclosed income and substantiation thereof sue motu. It was not shown to us as to whether such query was put even in the course of assessment proceedings. In the absence of any inquiry, the assessee cannot be blamed for non-satisfaction of the exit clause provided under s.271AAA(2) of the Act. Therefore, in the facts and circumstances of the case, the immunity provided under erstwhile provisions of Section 271AAA(1) of the Act cannot be denied. - Decided against revenue
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