Penalty for Unexplained Investments Avoided if Taxpayer Provides Valid Explanation Under Sec 271(1)(c) and Sec 69.

Penalty for Unexplained Investments Avoided if Taxpayer Provides Valid Explanation Under Sec 271(1)(c) and Sec 69. https://www.taxtmi.com/highlights?id=53051 Penalty u/s 271(1)(c) - unexplained investment u/s.69 - The penalty can be justified only if assessee fails to offer an explanation or his explanation is found to be false. If these circumstances are not present, the penalty can be avoided if assessee is able to substantiate his explanation. en-us Mon, 20 Apr 2020 12:31:17 +0530 Mon, 20 Apr 2020 12:31:17 +0530 TaxTMI RSS Generator Penalty for Unexplained Investments Avoided if Taxpayer Provides Valid Explanation Under Sec 271(1)(c) and Sec 69. https://www.taxtmi.com/highlights?id=53051 Penalty u/s 271(1)(c) - unexplained investment u/s.69 - The penalty can be justified only if assessee fails to offer an explanation or his explanation is found to be false. If these circumstances are not present, the penalty can be avoided if assessee is able to substantiate his explanation. Highlights Income Tax Mon, 20 Apr 2020 12:31:17 +0530 https://www.taxtmi.com/highlights?id=53051