Voluntary Income Disclosure Doesn't Exempt Assessees from Penalties: Revenue Loss Protection in Income Tax Cases.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Levy of penalty - even voluntary surrender of income will not always necessarily rescue the assessee from the penalty provisions which are in the nature of remedy for loss of possible revenue.....