TMI BlogLevy of penalty u/s 271(1)(c) - Even if some discrepancies were found during the survey resulting in...Levy of penalty u/s 271(1)(c) - Even if some discrepancies were found during the survey resulting in surrender of income by the assessee, once the assessee has declared the said income in the return of income filed under section 139(1) of the Act, then the penalty cannot be levied on the surmises, conjectures and possibilities that the assessee would not have disclosed the income but for survey. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
