https://www.taxtmi.com/manuals?id=3591 Penalty under the Income Tax Act is levied for under reporting and misreporting of income and does not apply to unexplained income, targeting discrepancies between returned income and assessed income that constitute understatement or inaccurate representation. en-us Thu, 14 Dec 2023 14:13:00 +0530 Thu, 14 Dec 2023 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=3591 Penalty under the Income Tax Act is levied for under reporting and misreporting of income and does not apply to unexplained income, targeting discrepancies between returned income and assessed income that constitute understatement or inaccurate representation. Manuals Income Tax Thu, 14 Dec 2023 14:13:00 +0530 https://www.taxtmi.com/manuals?id=3591