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2018 (5) TMI 1153 - AT - Income TaxPenalty u/s 271AAA - AO no where directed the assessee to disclose manner or to substantiate such manner showing the earning of undisclosed income admitted during the course of search - Held that:- As during the course of search statement of assessee was not recorded. It was of Anil Bholabhai Patel and no such specific question was asked. CIT(A) has reproduced statement of Shri Anil Bholabhai in the impugned order and observed that under identical circumstances penalties imposed on other group persons have been deleted. Department failed to demonstrate that the assessee was confronted with conditions enumerated in section 271AAA either during the course of search or during the assessment proceedings. In the absence of any such direction from the AO, it could not be expected from the assessee to explain the manner in which such income was earned. Therefore, to my mind the assessee has fulfilled all conditions contemplated in sub-section (2) of section 271AAA of the Act and no penalty deserves to be imposed upon the assessee. - Decided in favour of assessee.
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