Red Diary Cash Advances Not Undisclosed Income u/s 271AAB; No Penalty Imposed for Non-Tangible Assets. https://www.taxtmi.com/highlights?id=47715 Penalty U/s 271AAB - red diary found in search, wherein there are notings relating to cash advances given - as per the definition of undisclosed income u/s 271AAB, the said cash advance cannot be stated to be income which is represented by any money, bullion, jewellery or other valuable article or thing - no penalty en-us Fri, 05 Jul 2019 06:33:27 +0530 Fri, 05 Jul 2019 06:33:27 +0530 TaxTMI RSS Generator Red Diary Cash Advances Not Undisclosed Income u/s 271AAB; No Penalty Imposed for Non-Tangible Assets. https://www.taxtmi.com/highlights?id=47715 Penalty U/s 271AAB - red diary found in search, wherein there are notings relating to cash advances given - as per the definition of undisclosed income u/s 271AAB, the said cash advance cannot be stated to be income which is represented by any money, bullion, jewellery or other valuable article or thing - no penalty Highlights Income Tax Fri, 05 Jul 2019 06:33:27 +0530 https://www.taxtmi.com/highlights?id=47715