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Income Tax - Highlights / Catch Notes

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Penalty U/s 271AAA - In the statement recorded U/s 132(4) of the ...

Income Tax

May 30, 2017

Penalty U/s 271AAA - In the statement recorded U/s 132(4) of the Act when the assessee categorically stated that he has derived undisclosed income by way of inflating expenses recorded in the books of account - no penalty - AT

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  3. Penalty u/s 271AAA - sum surrendered in statement recorded u/s 132(4) during the search - since assessee cannot be said to have not satisfied the condition of specifying...

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  6. Penalty u/s 271AAA - Addition being 10% of the undisclosed income - There remains no ambiguity to the fact that the AO has not brought anything on record including the...

  7. Penalty u/s. 271AAA(2) - Assessment u/s 153 - where the revenue had failed to question the assessee while recording the statement u/s 132(4) of the Act as regards the...

  8. Penalty imposed by AO u/s 271AA - in absence of specific query raised by the authorised officer during the course of recording of statement u/s 132(4) of the Act about...

  9. Use of materials seized and the statement furnished by the third parties against the assessee - the opportunity for the rebuttal to the assessee for the seized documents...

  10. Penalty order u/s 271AAA - disclosure of additions income pursuant to search u/s 132 - In the present case the assessee has disclosed the entire source of income and...

  11. Statement recorded u/s 133A (3)(iii) is different than the statement recorded during search and seizure u/s 132(4), both have different evidentiary value

  12. Penalty u/s 271AAB - Section 271AAB of the Act, contemplates imposition of a penalty pursuant to the disclosure of income in statement recorded u/s. 132(4) of the Act by...

  13. Validity of statement - retraction of statement - the statement recorded u/s. 132(4) cannot be discarded merely because the retractment statements were filed. The...

  14. 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...

  15. 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 -...

 

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