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2023 (10) TMI 1016 - ITAT DELHIPenalty u/s 271AAA - Income surrendered in search & seizure operation - Unaccounted income of group which was voluntarily offered as additional income - AO alleged assessee has shown the surrendered income as income from other sources - CIT(A) has deleted the same on the basis of fact that in the quantum appeal, the Tribunal in appea has deleted the addition - HELD THAT:- As in the quantum appeal, a co-ordinate Bench has giving a finding that the amounts disclosed during the search were part of the cash sales and included in the books of accounts. The same substantiates the manner of earning alleged undisclosed income and thus Ld. CIT(A) was not in error deleting the penalty imposed u/s 271AAA. The ground raised in the appeal have no substance. The appeal of Revenue is dismissed.
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