Immunity from s.271AAA penalty available even if tax on undisclosed income unpaid till passing assmt order

DCIT vs. Pioneer Marbles & Interiors Pvt Ltd (ITAT Kolkata)

Pursuant to a search u/s 132 the assessee disclosed additional income u/s 132(4) and offered the same to tax. However, the taxes due on the same were paid only after the passing of the assessment order. The AO held that as the taxes were not paid at the time of filing the ROI, the immunity from penalty u/s 271AAA was not available. This was reversed by the CIT (A) on the ground that u/s 271AAA (2), there was no precondition that the tax & interest had to be paid before filing of return or any other