Penalty u/s 271AAA Needs Undisclosed Income Found in Search; Not Automatically Imposed Without Meeting Conditions.

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 - There should be some undisclosed income in the form of money, bullion etc or any entry in the books of account or other documents and the same should be found in the course of search for levy of penalty - levy of penalty is not automatic - AT....