Penalty u/s 271AAB - surrender of ₹ 50 lacs an account of ...

Income Tax

June 20, 2019

Penalty u/s 271AAB - surrender of ₹ 50 lacs an account of any other discrepancy or irregularity - no such discrepancy or irregularity was found by the AO then the mere surrender U/s 132(4)will not ipso facto attract the penalty U/s 271AAB until and unless the same is qualified as undisclosed income as per definition provided in the explanation to Section 271AAB - Penalty deleted

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Penalty u/s 271AAB - surrender of ₹ 50 lacs an account of ...

Income Tax

June 20, 2019

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