Penalty u/s 271AAB - document found during the search is not an ...

LTCG Income Properly Recorded, Not "Undisclosed" Under Sec 271AAB; No Penalty Imposed After Search.

June 1, 2019

Case Laws Income Tax AT

Penalty u/s 271AAB - document found during the search is not an incriminating material when the entry and the income were duly recorded in the books of account - income surrendered on account of LTCG in the statement recorded u/s 132(4) does not fall in the ambit of definition of undisclosed income as contemplated in Explanation to section 271AAB - No penalty

View Source

← Previous Next →

Penalty u/s 271AAB - document found during the search is not an ...

LTCG Income Properly Recorded, Not "Undisclosed" Under Sec 271AAB; No Penalty Imposed After Search.

June 1, 2019

Case Laws Income Tax AT

You may also like:

Penalty u/s 271AAB - treating an amount included in the Return of Income as undisclosed income susceptible to penalty - search conducted u/s 132, assessment carried out...

Penalty u/s 271(1)(c) was levied on additional income voluntarily offered in the statement recorded u/s 132(4). However, no reference was made to corroborative...

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)...

Penalty levied u/s 271AAB - Undisclosed income - Assessee has neither made any surrender of any undisclosed income during the search action nor the penalty has been...

The Income Tax Appellate Tribunal held that the assessee's plea towards non-applicability of Section 271AAB of the Income Tax Act was devoid of rationale. The Tribunal...

Penalty u/s. 271AAB - commodity profit as falling in the ken of the 'undisclosed income' - since the amount on which penalty is levied has been found at the time of...

Penalty levied by the AO u/s. 271AAB r.w.s. 274 - levy penalty of 30% on undisclosed income - the reasons given by the AO to levy 30% penalty on undisclosed income is...

ITAT ruled against penalty imposition under s.271AAB(1A)(b) at 60% rate. The tribunal emphasized that mere voluntary disclosure during search proceedings does not...

Penalty levied u/s 271AAB - conversion of survey action into search - detection of undisclosed income u/s 133A or u/s 132 - The objection of ld. CIT-DR for the revenue...

Penalty u/s 271AAB(1) - disallowance u/s 14A - search and seizure - the disallowance of expenditure u/s 14A doesn’t represent any income of the specified previous year...

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...

Penalty u/s 271AAB - there is no finding in the penalty order to this effect that undisclosed income so found and surrendered during the course of search falls under the...

Amendment of section 271AAB. - penalty where search has been initiated. - to provide for levy of penalty on such undisclosed income at a flat rate of sixty per cent. -...

Penalty u/s 271AAB - disclosure of additional income in the return of income filed under section 153A - there was no undisclosed income found during the course of search...

Penalty u/s.271AAB - Belated filing of regular return after search - Penalty cannot be levied u/s.271AAB of the Act, in respect of income disclosed in regular return of...

Quick Updates: