Penalty u/s 271AAA Needs Undisclosed Income Found in Search; Not Automatically Imposed Without Meeting Conditions.

Penalty u/s 271AAA Needs Undisclosed Income Found in Search; Not Automatically Imposed Without Meeting Conditions. https://www.taxtmi.com/highlights?id=28693 Penalty u/s 271AAA - There should be some undisclosed income in the form of money, bullion etc or any entry in the books of account or other documents and the same should be found in the course of search for levy of penalty - levy of penalty is not automatic - AT en-us Wed, 20 Apr 2016 09:51:07 +0530 Wed, 20 Apr 2016 10:12:54 +0530 TaxTMI RSS Generator Penalty u/s 271AAA Needs Undisclosed Income Found in Search; Not Automatically Imposed Without Meeting Conditions. https://www.taxtmi.com/highlights?id=28693 Penalty u/s 271AAA - There should be some undisclosed income in the form of money, bullion etc or any entry in the books of account or other documents and the same should be found in the course of search for levy of penalty - levy of penalty is not automatic - AT Highlights Income Tax Wed, 20 Apr 2016 09:51:07 +0530 https://www.taxtmi.com/highlights?id=28693