Penalty u/s 271AAB not imposable as income not falls in undisclosed income category

R. P. Wood Products Private Limited Vs DCIT (ITAT Jaipur) ITAT Jaipur held that imposition of penalty under section 271AAB of the Income Tax Act unsustainable as income does not fall in the category of undisclosed income. Facts- Post conduct of search operations, the assessee offered an amount of Rs.2,07,96,754/- on account of commission sales which was neither disclosed in the original return of income nor the return of income filed in response to notice issued u/s 153A of the I.T. Act, 1961 for the A.Y.2018-19. Therefore, an addition of Rs.2,07,96,754/- is hereby made on account of undisclos...