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Income Tax - Highlights / Catch Notes

Home Highlights June 2018 Year 2018 This

Penalty u/s. 271AAA - assessee is not at fault for ...

Case Laws     Income Tax

June 4, 2018

Penalty u/s. 271AAA - assessee is not at fault for substantiating the manner for earning the undisclosed income, in the absence of any specific query raised by the Authorised Officer while recording statement u/s. 132(4) - No penalty - AT

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  8. Penalty u/s 271AAA - assessee in statement u/s 132(4) stated that he is dealing in land, therefore, the cash balance available with him was generated due to various...

  9. Penalty u/s 271AAA - undisclosed income - During the assessment proceedings, the assessee substantiated the manner in which the said income was derived through...

  10. Penalty u/s 271AAA(2) - specification the manner of undisclosed income and substantiated the manner in which the income was derived - no such query at the time of...

  11. This case deals with the levy of penalties u/ss 271AAA and 271(1)(c) of the Income Tax Act in relation to various additions made to the assessee's income based on seized...

  12. Undisclosed income surrendered during search must fall within the definition of undisclosed income for penalty u/s 271AAA to be justified. Assessing Officer must record...

  13. Penalty u/s 271AAA - when the assessee has failed to specify the manner and substantiate the manner in which the undisclosed income was derived rather embark upon the...

  14. Penalty order u/s 271AAB for treating an amount included in the Return of Income as 'undisclosed income' was found unjustified. The Commissioner of Income Tax (Appeals)...

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