Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Disallow the benefits of section 40A(3),(3A) - fragmented payments made in a day more than Rs. 20,000 – in the year 2009, the Parliament had amended the provision and added word “aggregate” in the section 40(3) - Since the benefit of the amended provision was not available during the assessment year and is not retrospective in nature no point of disallowance - HC
Disallow the benefits of section 40A(3),(3A) - fragmented payments made in a day more than Rs. 20,000 – in the year 2009, the Parliament had amended the provision and added word “aggregate” in the section 40(3) - Since the benefit of the amended provision was not available during the assessment year and is not retrospective in nature no point of disallowance - HC
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