Penalty for Excess Stock u/s 271AAB: Internal Inspection Report's 'Undisclosed Income' Argument Rejected as Lacking Merit.

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....Penalty u/s. 271AAB - value of excess stock considered to be ‘undisclosed income’ - there is no merit in the argument that the excess stock found noted in the stock inspection report prepared by the internal team of the assessee constituted ‘undisclosed income’ unearthed as a consequence of search.....