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2021 (4) TMI 43 - AT - Income TaxPenalty u/s 271AAA - Addition being 10% of the undisclosed income - HELD THAT:- We find that the assessee has disclosed the unaccounted income from the sale of land which has not been doubted by the authorities below. Thus, it is transpired that that the assessee complied with the conditions provided under sub-section 2 of section 271AAA of the Act. The onus is on the Revenue Authorities to show as to how and in what manner conditions of section 271AAA(2) had not been complied with. AO in the penalty order without elaborating the facts with the reasons has just mentioned that the assessee has not complied with the conditions as specified under section 271AAA of the Act for claiming the immunity. There remains no ambiguity to the fact that the AO has not brought anything on record including the statement recorded under section 132(4) of the Act suggesting that the conditions as specified under section 271AAA of the Act has not been satisfied. Accordingly we are not impressed with the finding of the authorities below. Thus the order of the learned CIT (A) is set aside by us with the direction to the AO to delete the penalty levied by him. Thus the ground of appeal of the assessee is allowed.
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