Penalty u/s 271AAB - An advance represents an outflow of funds ...

Section 271AAB: Advances Are Not Undisclosed Income, Only Unrecorded Inflows Count Before Search Date.

April 10, 2019

Case Laws Income Tax AT

Penalty u/s 271AAB - An advance represents an outflow of funds and what has been envisaged by the legislature while defining “undisclosed income” in section 271AAB is an inflow of funds which has not been recorded in the books of accounts on or before the date of search.

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Penalty u/s 271AAB - An advance represents an outflow of funds ...

Section 271AAB: Advances Are Not Undisclosed Income, Only Unrecorded Inflows Count Before Search Date.

April 10, 2019

Case Laws Income Tax AT

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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...

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Levy of penalty u/s.271AAB - filing of return declaring undisclosed income - Specified date is the due date for furnishing returned income u/s.139(1). Assessee had filed...

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