Penalty order passed u/s 271AAA - disclosure of undisclosed ...

Penalty u/s 271AAA Overturned: Tribunal Orders Deletion of Penalty on Undisclosed Jewelry and Cash.

July 28, 2021

Case Laws Income Tax AT

Penalty order passed u/s 271AAA - disclosure of undisclosed jewellery and cash - The levy of penalty in not automatic and not mandatory. - considering the facts circumstances, provisions and the ratio of the decision of the Hon’ble Tribunal. We set aside the order of the CIT(A) and direct the assessing officer to delete the penalty and allow the grounds of the appeal in favour of the assessee. - AT

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Penalty order passed u/s 271AAA - disclosure of undisclosed ...

Penalty u/s 271AAA Overturned: Tribunal Orders Deletion of Penalty on Undisclosed Jewelry and Cash.

July 28, 2021

Case Laws Income Tax AT

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