Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Penalty u/s 271(1)(c) - assessee has not declared interest income on loans and advances on ‘accrual basis’, even though the assessee was following mercantile system of accounting - The explanations furnished by the assessee cannot be said to be false. - No penalty.
Penalty u/s 271(1)(c) - assessee has not declared interest income on loans and advances on ‘accrual basis’, even though the assessee was following mercantile system of accounting - The explanations furnished by the assessee cannot be said to be false. - No penalty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
