TMI BlogPenalty u/s 271AAB - It is not mandatory but the AO has a discretion after considering all the relevant...Penalty u/s 271AAB - It is not mandatory but the AO has a discretion after considering all the relevant aspects of the case and then to satisfy himself that the case of the assessee falls in the definition of undisclosed income as provided in the explanation to section 271AAB - AO is duty bound to first hold that the income disclosed by the assessee is undisclosed income before levying penalty ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
