Penalty levied u/s 271AAB - conversion of survey action into ...

Income Tax

September 9, 2021

Penalty levied u/s 271AAB - conversion of survey action into search - detection of undisclosed income u/s 133A or u/s 132 - The objection of ld. CIT-DR for the revenue is concern that the Ld. CIT(A) when survey proceedings at one premise has been converted into search, it became a search case and the entire disclosure made by assessee-firm on the basis of excess stock not recorded in their books of account to be considered at undisclosed income for the purpose of section 271AAB - The objection of the revenue does not have any merit - AT

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Penalty levied u/s 271AAB - conversion of survey action into ...

Income Tax

September 9, 2021

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