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Penalty Discretion u/s 158BFA(2) of Income Tax Act: No Penalty Imposed for Undisclosed Income Tax Shortfall.

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....Penalty u/s.158BFA(2) - Assessee has failed to pay the tax in its entirety on the undisclosed income - the provisions of law uses the word 'May' and not the word 'Shall' - No penalty - HC....