Voluntary income disclosure exempts taxpayers from penalties u/s 158BFA(2) if done in good faith for peace.

Voluntary income disclosure exempts taxpayers from penalties u/s 158BFA(2) if done in good faith for peace. https://www.taxtmi.com/highlights?id=26160 Levy of penalty u/s 158BFA(2) - when the assessee has voluntarily accepted the undisclosed income bona-fidely for the purpose of buying peace of mind and to avoid protracted litigation, there is no question of imposing penalty - AT en-us Mon, 30 Nov 2015 16:20:23 +0530 Mon, 30 Nov 2015 16:20:23 +0530 TaxTMI RSS Generator Voluntary income disclosure exempts taxpayers from penalties u/s 158BFA(2) if done in good faith for peace. https://www.taxtmi.com/highlights?id=26160 Levy of penalty u/s 158BFA(2) - when the assessee has voluntarily accepted the undisclosed income bona-fidely for the purpose of buying peace of mind and to avoid protracted litigation, there is no question of imposing penalty - AT Highlights Income Tax Mon, 30 Nov 2015 16:20:23 +0530 https://www.taxtmi.com/highlights?id=26160