Taxpayer Penalized u/s 271(1)(c) for Undisclosed Income; Section 271AAA Penalty Ruled Unsustainable by Commissioner.

Taxpayer Penalized u/s 271(1)(c) for Undisclosed Income; Section 271AAA Penalty Ruled Unsustainable by Commissioner. https://www.taxtmi.com/highlights?id=49291 Penalty levied u/s. 271(1)(c) - Income disclosed by the assessee in the Return of Income which is not part of Regular Accounts - CIT(A) directed the AO that levy penalty u/s. 271AAA cannot sustained - Hence the action of the Assessing Officer to sustain the penalty u/s 271(1)(c) levied in the revision order is upheld. - AT en-us Mon, 16 Sep 2019 11:12:16 +0530 Mon, 16 Sep 2019 11:12:16 +0530 TaxTMI RSS Generator Taxpayer Penalized u/s 271(1)(c) for Undisclosed Income; Section 271AAA Penalty Ruled Unsustainable by Commissioner. https://www.taxtmi.com/highlights?id=49291 Penalty levied u/s. 271(1)(c) - Income disclosed by the assessee in the Return of Income which is not part of Regular Accounts - CIT(A) directed the AO that levy penalty u/s. 271AAA cannot sustained - Hence the action of the Assessing Officer to sustain the penalty u/s 271(1)(c) levied in the revision order is upheld. - AT Highlights Income Tax Mon, 16 Sep 2019 11:12:16 +0530 https://www.taxtmi.com/highlights?id=49291