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TMI Blog2018 (7) TMI 2054X X X X Extracts X X X X X X X X Extracts X X X X ..... and dissatisfied with the impugned judgment and order passed by the learned Income Tax Appellate Tribunal, Rajkot Bench, Rajkot (hereinafter referred to as "the learned Tribunal") in IT(SS) No.28/Rjt/2017 for the Assessment Year 2011-12 by which the learned Tribunal has dismissed the Appeal preferred by the revenue and has confirmed the order passed by the learned CIT(A) deleting the penalty of Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 271AAA of the Income Tax Act namely that the assessee must have admitted the undisclosed income in the course of search and in a statement under Sub Section (4) of Section 32 the assessee should specify the manner in which such income has been derived. According to the Assessing Officer as the assessee did not disclose /specify the manner in which the undisclosed income was derived, and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oner of Income Tax vs. Mahendra C.Shah (supra). Subsection (2) of section 271AAA imposes an additional condition of the assessee having to substantiate the manner in which, the undisclosed income was derived. This requirement, however, must be seen as consequential to or corollary to the base requirement of specifying the manner, in which, the undisclosed income was derived. It is only when such d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esponse from the assesse's this requirement, the assessee's responsibility to substantiate the manner of deriving such income would commence. When the base requirement itself fails, the question of denying the benefit of no penalty would not arise." [4.0] Considering the aforesaid decision of the Division Bench of this Court, it cannot be said that the learned Tribunal has committed any e ..... X X X X Extracts X X X X X X X X Extracts X X X X
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