The penalty u/s 271AAA could be levied in specified previous ...

Income Tax

November 23, 2018

The penalty u/s 271AAA could be levied in specified previous year in respect of the undisclosed income unless admitted in a statement u/s 132(4) and specified the manner in which income is derived and the manner has to be substantiated - Since all the conditions are not fulfilled, no penalty.

View Source

← Previous Next →

The penalty u/s 271AAA could be levied in specified previous ...

Income Tax

November 23, 2018

You may also like:

Penalty u/s.271(1)(c) or penalty u/s.271AAA - The provisions of Section 271AAA(3) of the Act specifically excludes the provisions of Section 271(1)(c) of the Act for the...

Penalty u/s 271AAB(1) - disallowance u/s 14A - search and seizure - the disallowance of expenditure u/s 14A doesn’t represent any income of the specified previous year...

Penalty u/s 271AAA - There will not be any penalty to the extent of undisclosed income admitted during search - immunity available under sub-clause (2) of section 271AAA

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 -...

Once penalty U/s 271AAA of I.T. Act has been levied in respect of undisclosed income, the AO was in error of law prescribed U/s 271AAA(3) of I.T. Act, in imposing...

Penalty u/s. 271AAA - undisclosed income of the ‘specified previous year’ - the year in which search is conducted has also to be seen as the year in which the search is...

Penalty levied by the AO u/s. 271AAB r.w.s. 274 - levy penalty of 30% on undisclosed income - the reasons given by the AO to levy 30% penalty on undisclosed income is...

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

Penalty u/s 271AAA - CIT(A) simply went by the dates given in sub-section (1) of section 271AAA without examining ‘specified previous year’ which is crucial for...

Penalty u/s 271 AAA - source and manner in which the undisclosed income was derived - where no statement u/s 132(2) of the Act is recorded or specific query is made...

Quick Updates: