regarding penalty u/s 271DA.

deptt/ revenue could not bring even a single piece of evidence on record that assessee has recd more than rs 2/lakhs from a particular person during a particlar assessment. nor the assessment proceeding took place for thatAY.assessee directly recd notice u/s 274 r.w.s  271DA and imposed penalty u/s 271DA.whether ao can imposed as he did not have any evidence, secondly as no assessment took place for that assessment year, penalty can be imposed in the absence of assessment being made.

► Read Answer

  Penalty U/Sec. 271DA

Assessee is the co and during the course of assessment proceedings for A.Y. 20-21 on the basis of voucher seized during the course of search with other person , where in it is stated that the  other person has made payment of Rs. 5 lakhs in cash and same has been added U/Sec.69 of the Act  and now the assessee has received show cause Notice U/Sec. 271DA of the Act. whether Penalty U/Sec. 271DA can be levied even if addition is made U/SEc. 69 for the amount which is not recorded in the books of the assessee. whether assessee has…

► Read Answer