Wilful failure to file undisclosed income return in search cases attracts graded punishment under section 276CCC. Wilful failure to furnish, in due time, the return of income setting forth undisclosed income for the block period, when required by notice under section ... Summary
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Wilful failure to file undisclosed income return in search cases attracts graded punishment under section 276CCC.
Wilful failure to furnish, in due time, the return of income setting forth undisclosed income for the block period, when required by notice under section 158BC(1)(a), attracts graded punishment under section 276CCC. The penalty framework varies with the amount of tax involved and may consist of imprisonment, fine, or both, with a proviso excluding failures connected with specified searches or requisitions during the stated period.
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