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 April 2020 Year 2020 This

Penalty u/s 271AAB - undisclosed income - AO’s action penalizing ...

Income Tax

April 16, 2020

Penalty u/s 271AAB - undisclosed income - AO’s action penalizing the assessee qua the said disclosed / duly recorded income is found to be not sustainable therefore. - AO directed to re-compute the penalty only towards undisclosed income - AT

View Source

 


 

You may also like:

  1. Penalty levied u/s 271AAB - Undisclosed income - Assessee has neither made any surrender of any undisclosed income during the search action nor the penalty has been...

  2. Penalty u/s 271AAB - It is not mandatory but the AO has a discretion after considering all the relevant aspects of the case and then to satisfy himself that the case of...

  3. 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...

  4. Penalty u/s. 271AAB - commodity profit as falling in the ken of the 'undisclosed income' - since the amount on which penalty is levied has been found at the time of...

  5. Penalty levied u/s 271AAB - assessee in the return of income has disclosed income on account of undisclosed jewellery - The assessee has neither earned any business...

  6. 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...

  7. Undisclosed income - addition on the basis of amount reflected in Form No.26AS - No dispute with regard to the fact that the AO taxed the entire difference of receipts -...

  8. Penalty u/s 271AAB - there is no finding in the penalty order to this effect that undisclosed income so found and surrendered during the course of search falls under the...

  9. Penalty u/s. 271AAB - 10% OR 30% of undisclosed income - the department having taken the huge amount in their custody, cannot take unjust enrichment of it, when on one...

  10. Penalty u/s 271AAB - undisclosed investment - the assessee is a salaried person who is not required to maintain any books of accounts and there is no mechanism to report...

 

Quick Updates:Latest Updates