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Income Tax - Highlights / Catch Notes

Home Highlights June 2018 Year 2018 This

Penalty u/s. 271AAA - assessee is not at fault for ...

Income Tax

June 4, 2018

Penalty u/s. 271AAA - assessee is not at fault for substantiating the manner for earning the undisclosed income, in the absence of any specific query raised by the Authorised Officer while recording statement u/s. 132(4) - No penalty - AT

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  2. Penalty order u/s 271AAA - disclosure of additions income pursuant to search u/s 132 - In the present case the assessee has disclosed the entire source of income and...

  3. Levy of penalty u/s 271AAA - Defective notice - the Assessing Officer has not confronted the assessee to substantiate the manner in which the additional income was...

  4. Penalty u/s 271 AAA - source and manner in which the undisclosed income was derived - where no statement u/s 132(2) of the Act is recorded or specific query is made...

  5. Penalty u/s 271AAA - assessee was asked to explain the entries in the 'work-in-progress sheet' - assessee was not asked about the manner in which such income was earned...

  6. Penalty levied u/s 271AAA - allegation of failure to substantiate the manner of undisclosed income derived - assessee has made it clear that additional income is being...

  7. Penalty u/s 271AAA - assessee in statement u/s 132(4) stated that he is dealing in land, therefore, the cash balance available with him was generated due to various...

  8. Penalty u/s 271AAA - undisclosed income - During the assessment proceedings, the assessee substantiated the manner in which the said income was derived through...

  9. Penalty u/s 271AAA(2) - specification the manner of undisclosed income and substantiated the manner in which the income was derived - no such query at the time of...

  10. Penalty u/s 271AAA - when the assessee has failed to specify the manner and substantiate the manner in which the undisclosed income was derived rather embark upon the...

  11. Penalty u/s. 271AAA - undisclosed income - failure to prove the manner in which income has been earned - disclosure made with the consent of the family members and all...

  12. 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...

  13. The penalty u/s 271AAA could be levied in specified previous year in respect of the undisclosed income unless admitted in a statement u/s 132(4) and specified the manner...

  14. Penalty u/s 271AAA - assessee failed to substantiate the manner in which undisclosed income was derived - from the statement of director, no such question had been asked...

  15. Levy of penalty u/s 271AAA - allegation that, assessee had not accounted for this surrendered income in his books of account on the date of search and further the...

 

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