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Income Tax - Highlights / Catch Notes

Home Highlights June 2019 Year 2019 This

Penalty u/s 271AAB - undisclosed income - there was no ...

Income Tax

June 12, 2019

Penalty u/s 271AAB - undisclosed income - there was no discrepancy found in the physical stock as well as stock recorded in the books of account despite the physical verification and inventorization carried out of investigating team - mere details of payment for purchases in cash would not constitute undisclosed income as per the definition provided in explanation to Section 271AAB - no penalty

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