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Income Tax - Highlights / Catch Notes

Home Highlights June 2019 Year 2019 This

Penalty u/s 271AAA(2) - specification the manner of undisclosed ...


No Penalty Imposed: Requirements Met u/s 271AAA(2) of Income Tax Act; Query Absence Noted During Statement Recording.

June 17, 2019

Case Laws     Income Tax     HC

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 recording statement u/s 132(4) - concurrent findings that all the three as stipulated in sub-section (2) of Section 271AAA are fulfilled - no penalty

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