Penalty Imposed for Undisclosed Income: Unexplained Cash and Jewelry u/s 271AAB of Income Tax Act.

Levy of penalty - The disclosure and surrender represents the underlying assets being unexplained cash as well as jewellery. Accordingly, the same will fall in the definition of undisclosed income provided in clause (c) of Explanation to Section 271AAB - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X