Penalty u/s 271AAA cannot be levied on undisclosed Income for which AO did not put a specific query to assessee

1. The Revenue is in appeal against the order dated 28th October, 2016 passed by the Income Tax Appellate Tribunal in ITA NO. 476/Del./2014 for Assessment Year (‘AY’) 2010-2011.

2. The question sought to be urged by the Revenue is whether the ITAT erred in law in confirming the order of the Commissioner of Income Tax (Appeal) [‘CIT(A)] deleting the penalty imposed upon the Respondent Assessee under Please become a Premium member. If you are already a Premium member, login here to access the full content.