Penalty u/s 271AAB - whether it is mandatory or discretionary - ...

Case Laws Income Tax

November 14, 2019

Penalty u/s 271AAB - whether it is mandatory or discretionary - income surrender on account of advance for land - When there is no acquisition of land then in the absence of the corresponding asset acquired by the assessee the mere noting of the advance which is out flow of the funds cannot be held as undisclosed income.

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Penalty u/s 271AAB - whether it is mandatory or discretionary - ...

Case Laws Income Tax

November 14, 2019

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