2012 (10) TMI 63

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..... the ITAT and in view of the order passed by this Court in Tax Case No. 10 of 1999(R) wherein penalty on account of undisclosed income has been set aside after taking note of the assessee that one of the partners of the assessee declared undisclosed income because of the pressure of the searching officer and in fact there was no undisclosed income, thus the Tribunal had not committed any error - in .....

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..... assessee was required to submit a higher estimate of advance tax but assessee failed to do so. Reason for such view of the assessing officer was that during course of search one of the partners of the assessee firm declared undisclosed income of Rs. 20 lakhs. Therefore, the assessee should have paid the advance tax on this undisclosed income also and since assessee did not deposit the advance t .....

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..... cluding the addition of Rs. 20 lakhs in the income of the assessee, the assessee deposited the advance tax. In that fact and circumstance of the case, we are of the considered opinion that there was no illegality in the order passed by the ITAT and in view of the order passed by this Court in Tax Case No. 10 of 1999(R), we are of the considered opinion that the Tribunal had not committed any error .....

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