https://www.taxtmi.com/highlights?id=49280 Levy of penalty u/s 271AAB - surrender of additional income during search - assessee had himself admitted to the fact that there were discrepancies and unrecorded entries in his books of account and also certain rough notings and estimates. Having himself admitted to all these facts and at no point of time having ever retracted this admission, the same constitutes incriminating material against the assessee - Levy of penalty confirmed - AT en-us Sat, 14 Sep 2019 12:58:33 +0530 Sat, 14 Sep 2019 12:58:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=49280 Levy of penalty u/s 271AAB - surrender of additional income during search - assessee had himself admitted to the fact that there were discrepancies and unrecorded entries in his books of account and also certain rough notings and estimates. Having himself admitted to all these facts and at no point of time having ever retracted this admission, the same constitutes incriminating material against the assessee - Levy of penalty confirmed - AT Highlights Income Tax Sat, 14 Sep 2019 12:58:33 +0530 https://www.taxtmi.com/highlights?id=49280