TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of ITAT upheld penalty u/s.270A for underreporting of income based on suppressed sales discovered during survey. Despite partner's initial admission and subsequent retraction, incriminating documents substantiated undisclosed income. The tribunal found no procedural infirmity in penalty imposition, noting the assessee's repeated non-compliance and failure to effectively challenge the revenue's claims. The penalty was directed to be recalculated proportionate to the reduced income quantum, affirming the CIT(A)'s earlier order. The tribunal concluded that the suppressed sales constituted misreporting under section 270A, warranting statutory penalty.
TaxTMI 
TaxTMI 
