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Income Tax - Highlights / Catch Notes

Home Highlights August 2018 Year 2018 This

Levy of penalty u/s 271AAA - additions on account of unaccounted ...


Penalty Imposed u/s 271AAA Overturned Due to Lack of Inquiry on Unaccounted Land Trading and Commission Income.

August 24, 2018

Case Laws     Income Tax     AT

Levy of penalty u/s 271AAA - additions on account of unaccounted receipts derived from land trading and commission income - In the absence of any inquiry in this regard, the assessee cannot be blamed for non-satisfaction of the exit clause provide under s. 271AAA(2)

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