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Income Tax - Highlights / Catch Notes

Home Highlights October 2016 Year 2016 This

Penalty under Section 271(1)(c) - assessee made surrender ...


Taxpayer Avoids Penalty by Declaring Surrendered Income Pre-Notice; Accepted by Assessing Officer u/s 271(1)(c.

October 14, 2016

Case Laws     Income Tax     AT

Penalty under Section 271(1)(c) - assessee made surrender immediately after search and before issuance of any notice and had declared the surrendered income in the returns of income accepted by the Assessing Officer - No penalty - AT

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