Levy of penalty u/s 271(1)(c) - large income admitted in the ...

Penalty Imposed for Undisclosed Income u/s 271(1)(c) After Search; Full Disclosure Crucial to Avoid Penalties.

August 11, 2018

Case Laws Income Tax AT

Levy of penalty u/s 271(1)(c) - large income admitted in the returns filed u/s. 153A - Had it been there is no search, the assessee would not have disclosed the income in respect of the undisclosed income. Hence, such amounts squarely come within the purview of penalty u/s. 271(1)(c) of the Act.

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Levy of penalty u/s 271(1)(c) - large income admitted in the ...

Penalty Imposed for Undisclosed Income u/s 271(1)(c) After Search; Full Disclosure Crucial to Avoid Penalties.

August 11, 2018

Case Laws Income Tax AT

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