Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Penalty levied under section 271AAB of the Act on cash advances - the deeming fiction so envisaged in section 69 and 69B cannot be extended and applied automatically in context of section 271AAB which contains a specific definition of undisclosed income - Levy of penalty on cash advances deleted as the same doesn’t satisfy the requirement of undisclosed income as so defined U/s 271AAB. - AT
Penalty levied under section 271AAB of the Act on cash advances - the deeming fiction so envisaged in section 69 and 69B cannot be extended and applied automatically in context of section 271AAB which contains a specific definition of undisclosed income - Levy of penalty on cash advances deleted as the same doesn’t satisfy the requirement of undisclosed income as so defined U/s 271AAB. - AT
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