T : Penalty under section 271AAA could not be levied merely on admission of assessee during search proceedings and there must be some conclusive evidence before Assessing Officer that entry made in seized documents represented undisclosed income of assessee

IT : Penalty under section 271AAA could not be levied merely on admission of assessee during search proceedings and there must be some conclusive

evidence before Assessing Officer that entry made in seized documents represented undisclosed income of assessee

[2015] 63 taxmann.com 193 (Kolkata - Trib.)

IN THE ITAT KOLKATA BENCH 'B'

SPS Steel & Power Ltd.

v.

Assistant Commissioner of Income-tax