Penalty under section 271AAB: reduced where taxpayer admits and substantiates undisclosed income and pays due tax; higher otherwise. Penalty under section 271AAB(1A) is reduced where the assessee admits and substantiates undisclosed income, pays tax and interest by the specified date, and files the return declaring that income; otherwise a higher penalty applies.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty under section 271AAB: reduced where taxpayer admits and substantiates undisclosed income and pays due tax; higher otherwise.
Penalty under section 271AAB(1A) is reduced where the assessee admits and substantiates undisclosed income, pays tax and interest by the specified date, and files the return declaring that income; otherwise a higher penalty applies.
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