Pre-existing disputes over outcome-based professional fees can bar Section 9 insolvency proceedings where contractual entitlement requires investigati...
Corresponding scheduled offences preserve money-laundering jurisdiction despite repeal of the central corruption provision where conduct remains cover...
Concurrent anticipatory-bail jurisdiction permits applications before either forum, while secured evidence may negate custodial interrogation in GST e...
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Section 271AAB imposes penalty only where the amount falls within its exhaustive definition of undisclosed income; a surrender during search proceedings alone is insufficient. Diary entries recording advances indicate an outflow or application of funds, rather than unreported income, unless a corresponding undisclosed asset or source is established. Deeming rules for unexplained sums do not automatically apply to this self-contained penalty provision. The Assessing Officer must specifically establish that the amount was found in, or resulted from, the search as undisclosed income. Penalty on surrendered advances reflected in vague diary notings was therefore deleted.
Section 271AAB imposes penalty only where the amount falls within its exhaustive definition of undisclosed income; a surrender during search proceedings alone is insufficient. Diary entries recording advances indicate an outflow or application of funds, rather than unreported income, unless a corresponding undisclosed asset or source is established. Deeming rules for unexplained sums do not automatically apply to this self-contained penalty provision. The Assessing Officer must specifically establish that the amount was found in, or resulted from, the search as undisclosed income. Penalty on surrendered advances reflected in vague diary notings was therefore deleted.
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