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Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Penalty u/s 271AAA - There should be some undisclosed income in ...

Income Tax

April 20, 2016

Penalty u/s 271AAA - There should be some undisclosed income in the form of money, bullion etc or any entry in the books of account or other documents and the same should be found in the course of search for levy of penalty - levy of penalty is not automatic - AT

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  3. Deletion of Penalty u/s 271AAA - the assessee had paid tax along with interest on undisclosed income admitted during the course of search - penalty deleted - AT

  4. Penalty u/s 271AAB - A bare surrender of income not representing the money, bullion, jewellery or other valuable article or thing or any entry in the books of account...

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  8. Penalty u/s 271AAB or 271AAA - non issue of notice u/s 274 read with Section 271AAB - corrigendum issued stating that Section 271AAA should be read as Section 271AAB -...

  9. Penalty u/s 271AAA - Assessment u/s 153C - search and seizure proceedings u/s 132(1) not carried out against the assessee - the primary condition of section 271AAA...

  10. Penalty u/s 271D & 271E - default committed in violation of section 269SS & 269T - Reliance on search proceeding documents - Transactions being mere book entries -...

 

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