Penalty Imposition Fails u/s 271AAB Due to Absence of Income Disclosure Statement u/s 132(4.

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....Section 271AAB of the Act, contemplates imposition of a penalty pursuant to the disclosure of income in statement recorded u/s 132(4) of the Act by the assessee. It is an admitted fact that no such statement has been recorded from the assessee. Thus, on this ground also, the levy of penalty fails. - AT....