Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Estimation of income - “real income/commission income” - Unexplained deposits in bank account - the assessee is engaged in the business of “cheque discounting” in order to earn commission income. - would not be correct to bring to tax the entire cash deposits as the assessee’s undisclosed income. - It would be reasonable to take 0.25% of total deposits in the bank accounts as commission income - AT
Estimation of income - “real income/commission income” - Unexplained deposits in bank account - the assessee is engaged in the business of “cheque discounting” in order to earn commission income. - would not be correct to bring to tax the entire cash deposits as the assessee’s undisclosed income. - It would be reasonable to take 0.25% of total deposits in the bank accounts as commission income - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
