Penalty proceedings u/s.271AAB - In this case, the assessee has ...

Penalty of 30% on Undisclosed Income Upheld After Assessee's Admission u/s 132(4) of Income Tax Act.

October 30, 2021

Case Laws Income Tax AT

Penalty proceedings u/s.271AAB - In this case, the assessee has admitted undisclosed income in the statement recorded u/s.132(4) of the Act and substantiates the manner in which undisclosed income was derived. Therefore, we are of the considered view that reasons given by the Assessing Officer to levy penalty of 30% of undisclosed income is in accordance with law - AT

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Penalty proceedings u/s.271AAB - In this case, the assessee has ...

Penalty of 30% on Undisclosed Income Upheld After Assessee's Admission u/s 132(4) of Income Tax Act.

October 30, 2021

Case Laws Income Tax AT

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