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Income Tax - Highlights / Catch Notes

Home Highlights August 2015 Year 2015 This

Penalty proceedings u/s.271AAA - no penalty u/s.271AAA can be ...

Income Tax

August 21, 2015

Penalty proceedings u/s.271AAA - no penalty u/s.271AAA can be levied if the assessee has paid the tax and interest due thereon within the time limit provided in notice of demand u/s.156 and also well before the penalty proceedings were concluded. - AT

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  9. Penalty 271AAA(2) - disclosure of undisclosed income - money found during search u/s 132 - assessee has fulfilled the requirement of sub-section (2) of section 271AAA -...

  10. Levy of penalty - As the assessee had paid service tax and interest by showing their bonafides before issuance of SCN - Penalty liable to be waived of by invoking Section 80 - AT

 

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