Dismissing the SLP the Court held that view taken by the Delhi High Court about the interpretation of sub-section (2) of section 271AAA of the Income-tax Act, 1961 is correct.
Amul Gabrani v. PCIT (2025)472 ITR 13/302 Taxman 410 (SC) Editorial : PCIT v. Amul Gabrani (2024) 169 taxmann.com 503 /472 ITR 3 (Delhi)(HC)
S. 271AAA : Penalty- Search initiated on or after 1st June, 2007- Failure to substantiate the manner of undisclosed income was earned- Order of High Court is affirmed- SLP of assessee is dismissed.[S. 132(4),271AA(2), Art. 136]
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