https://www.taxtmi.com/highlights?id=45770 Penalty u/s 271AAB - It is not mandatory but the AO has a discretion after considering all the relevant aspects of the case and then to satisfy himself that the case of the assessee falls in the definition of undisclosed income as provided in the explanation to section 271AAB - AO is duty bound to first hold that the income disclosed by the assessee is undisclosed income before levying penalty en-us Tue, 09 Apr 2019 06:43:58 +0530 Tue, 09 Apr 2019 06:43:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=45770 Penalty u/s 271AAB - It is not mandatory but the AO has a discretion after considering all the relevant aspects of the case and then to satisfy himself that the case of the assessee falls in the definition of undisclosed income as provided in the explanation to section 271AAB - AO is duty bound to first hold that the income disclosed by the assessee is undisclosed income before levying penalty Highlights Income Tax Tue, 09 Apr 2019 06:43:58 +0530 https://www.taxtmi.com/highlights?id=45770