Levy of penalty u/s 271AAB - surrender of additional income ...

Penalty Upheld u/s 271AAB Due to Assessee's Admission of Unrecorded Entries and Discrepancies Found During Search.

September 14, 2019

Case Laws Income Tax AT

Levy of penalty u/s 271AAB - surrender of additional income during search - assessee had himself admitted to the fact that there were discrepancies and unrecorded entries in his books of account and also certain rough notings and estimates. Having himself admitted to all these facts and at no point of time having ever retracted this admission, the same constitutes incriminating material against the assessee - Levy of penalty confirmed - AT

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Levy of penalty u/s 271AAB - surrender of additional income ...

Penalty Upheld u/s 271AAB Due to Assessee's Admission of Unrecorded Entries and Discrepancies Found During Search.

September 14, 2019

Case Laws Income Tax AT

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