Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2019 Year 2019 This

Penalty u/s 271AAB - discrepancy in stock - condition of ...

Income Tax

June 25, 2019

Penalty u/s 271AAB - discrepancy in stock - condition of Explanation(c) below section 271AAB(3) fulfilled - shortage of stock not accounted for by the assessee has been rightly qualify as “undisclosed income” as per the definition u/s 271AAB - penalty upheld

View Source

 


 

You may also like:

  1. 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...

  2. 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...

  3. Penalty u/s 271AAB - mandatory levy of penalty on surrender of undisclosed income - it is clear that difference in stock of goods as per books and as found at the time...

  4. Penalty u/s 271AAB or 271AAA - non issue of notice u/s 274 read with Section 271AAB - corrigendum issued stating that Section 271AAA should be read as Section 271AAB -...

  5. Penalty u/s 271AAB - difference in stock of goods as per books and as found at the time of search is on account of valuation of such stock at the market value instead of...

  6. Penalty u/s 271AAB - Defects in the notice issued u/s 274 - CIT(A) reduced the penalty to 10% applying provisions of Section 271AAB(a) of the Act as against penalty...

  7. 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...

  8. Penalty u/s 271AAB - the case of the assessee does not fall under the provisions of section 271AAB(3) of the Act but under the provisions of section 271AAB(1) of the Act...

  9. Validity of penalty orders u/s 271AAB - penalty notice issued under Section 274 read with Section 271 - penalty where the search has been initiated - levy of penalty sustained - HC

  10. CENVAT credit - levy of penalty - it was only with the insertion of Explanation III in rule 6(3) of CENVAT Credit Rules, 2004 that the ineligibility became unambiguously...

 

Quick Updates:Latest Updates