Penalty u/s 271AAA - immunity from penalty if tax and interest ...

Case Laws Income Tax

March 27, 2019

Penalty u/s 271AAA - immunity from penalty if tax and interest has been paid on undisclosed income surrendered - No time limit for payment - no penalty if tax paid before the assessment u/s 143(3) - penalty leviable on unpaid amount

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Penalty u/s 271AAA - immunity from penalty if tax and interest ...

Case Laws Income Tax

March 27, 2019

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Penalty u/s 271AAA - sufficient compliance - the language employed in the second exception under Explanation 5 to section 271(1) is, “pays the tax together with...

Penalty u/s 271AAA - Search and seizure - Undisclosed income - assessee could not be denied the immunity under section 271AAA(2) only because entire tax, along with...

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The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

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