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2022 (2) TMI 39 - AT - Income TaxLevy of penalty u/s 271AAA - need to specify the manner in which the undisclosed income had been derived - HELD THAT:- As on the statements of the Assessee and her husband recorded by the AO, nothing appears qua putting an specific query by referring the provisions of section 271AAA of the Act and drawing the attention of the Assessee to the same while asking her to specify the manner in which the undisclosed income had been derived, hence as per judgment of M/s Emirates Technologies Pvt. Ltd. [2017 (8) TMI 387 - DELHI HIGH COURT] wherein it has been affirmed “when no specific query had been put to the Assessee by drawing his attention to Section 271 AAA of the Act asking him to specify the manner in which the undisclosed income, surrendered during the course of search, had been derived, the jurisdictional requirement of Section 271AAA was not met “ the penalty is not leviable. Even Hon‟ble Gujarat High Court in the case of CIT vs. Mahendra C shah [2008 (2) TMI 32 - GUJARAT HIGH COURT] and case of Radha Kishan Geol [2005 (4) TMI 47 - ALLAHABAD HIGH COURT] dealt with the identical situation and deleted the penalty. We are inclined to delete the penalty imposed by the AO and confirmed by the ld.CIT(A) u/s 271AAA - Decided in favour of assessee.
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