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Bill - Highlights / Catch Notes

Home Highlights March 2016 Year 2016 This

Amendment of section 271AAB. - penalty where search has been ...

Act Rules     Bill

March 2, 2016

Amendment of section 271AAB. - penalty where search has been initiated. - to provide for levy of penalty on such undisclosed income at a flat rate of sixty per cent. - no penalty shall be levied under section 270A also in respect of the undisclosed income referred to in sub-section (1) of section 271AAB.

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  9. Benefit of Amnesty Scheme - Penalty levied u/s 271D and 271E - When a specified sum is so provided as the penalty, such specified sum is the minimum penalty payable....

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  11. Penalty u/s 271(1)(c) - Disallowance u/s 40(a)(ia) - AO has not applied his mind before initiating the penalty proceedings rather borrowed his satisfaction from the “tax...

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