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2022 (11) TMI 943 - ITAT DELHIPenalty u/s 271AAA - declaration of undisclosed income - voluntary or not - CIT(A) confirmed the levy of penalty - income was declared in the ITR post search but not u/s 132(4) - HELD THAT:- CIT(A) in its order has observed that, "the appellant made the disclosure only pursuant to action u/s 132 and there can be no scope for any element of voluntary action on part of the appellant in this scenario. There is no element of voluntary disclosure per se. However, it is also a fact that the appellant did declare, the income so disclosed, in its return of income. But, the appellant doesn't get the automated shade in form of sub-section 2 of section 271 AAA as the disclosure is not u/s 132 (4) nor is it conferred a shroud of voluntary action of disclosure." The assessee failed to support its claim and no material is placed before us to rebut the finding of learned CIT(Appeals). We, therefore, do not see any reason to interfere into the finding of learned CIT(Appeals) and the same is hereby affirmed. The grounds raised in this appeal are dismissed.
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