Penalty Imposed u/s 271AAB Despite Assessee's Conditional Voluntary Surrender; Legal Validity of Penalty Upheld.

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 271AAB - surrender being made allegedly voluntarily on the condition that no penal consequences would be visited upon the assessee - unilateral condition and belief of the assessee that no penalty would be levied has no legal sanction and has to be discarded.....