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Income Tax - Highlights / Catch Notes

Home Highlights October 2021 Year 2021 This

Penalty levied u/s. 271(1)(c) - undisclosed income surrendered ...


No Penalty for Assessee u/s 271(1)(c) as Income Declared Before Due Date in Tax Return.

October 19, 2021

Case Laws     Income Tax     AT

Penalty levied u/s. 271(1)(c) - undisclosed income surrendered during the course of survey - Assessee cannot be held to have concealed or furnished the particulars of income since the income declared during the course of survey has been offered to tax in the return of income filed before the due date of filing the return of income. - No penalty - AT

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