Interest and penalty exclusion prevents levy of interest or penalty on undisclosed income assessed for block period. Interest normally chargeable under the relevant interest provisions and penalty ordinarily leviable under the designated penalty provision do not apply to ... Summary
Interest and penalty exclusion prevents levy of interest or penalty on undisclosed income assessed for block period.
Interest normally chargeable under the relevant interest provisions and penalty ordinarily leviable under the designated penalty provision do not apply to the assessee in respect of undisclosed income assessed or reassessed for the block period following a search.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
