Section 271AAA: Penalty Focus Not on Income Derivation Details; Explanation 5(2) Remains Applicable Without Such Statement.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Penalty u/s 271AAA - much importance should not be attached to the statement about the manner in which such income has been derived - mere non-statement of the manner in which such income was derived would not make Explanation 5(2) inapplicable. - AT....