| COURT: | ITAT Bangalore |
| CORAM: | Abraham P. George (AM), Rajpal Yadav (JM) |
| SECTION(S): | 158BFA(2), 271(1)(c) |
| GENRE: | Domestic Tax |
| CATCH WORDS: | penalty, Undisclosed Income |
| COUNSEL: | S. Parthasarathy |
| DATE: | September 26, 2014 (Date of pronouncement) |
| DATE: | October 4, 2014 (Date of publication) |
| AY: | block period |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| There is a perceptional difference in the operative force of section 271(1)(c) vis-à-vis section 158BFA(2). The charge against the assessee u/s 158BFA(2) could be, why they failed to compute true disclosed income out of the seized material. | |
On a comparative study of the scheme of assessment of undisclosed income for the purpose of block period, penalty impossible u/s 271(1)(i)(c) and penalty impossible on the undisclosed income in the block period, we find that income for the block …
Recent Comments