{"id":4253,"date":"2019-03-05T12:04:57","date_gmt":"2019-03-05T12:04:57","guid":{"rendered":"http:\/\/itatonline.org\/digest\/dy-cit-v-manish-agarwala-2018-167-dtr-369-194-ttj-346-kol-trib\/"},"modified":"2019-03-05T12:04:57","modified_gmt":"2019-03-05T12:04:57","slug":"dy-cit-v-manish-agarwala-2018-167-dtr-369-194-ttj-346-kol-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dy-cit-v-manish-agarwala-2018-167-dtr-369-194-ttj-346-kol-trib\/","title":{"rendered":"Dy.CIT v. Manish Agarwala (2018) 167 DTR 369 \/ 194 TTJ 346 (Kol.)(Trib.)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Tribunal held that; since the assessee was not engaged in business or profession, he did not require to maintain books of account as per S 44AA or S 44AA(2). Accordingly, the Tribunal held that since the impugned income was entered in &#8216;other documents&#8217; maintained by assessee in normal course, which were retrieved during search, amount offered by assessee was beyond the scope of &#8216;undisclosed income&#8217; defined in S. 271AAB. \u00a0Accordingly the penalty was deleted. (AY. 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 271AAB : Penalty where search has been initiated\u2013Assessee recorded profits from sale of commodities in &#8216;other documents&#8217; maintained in normal course, which were retrieved during search, penalty  could not be levied.[S. 44AA(2), 132]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4253","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-16B","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=4253"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4253\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=4253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=4253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=4253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}