Tag Archives: section 271AAA

Penalty for undisclosed income can be imposed under section 271AAA and not under Section 271(1)(c)

As per  Section 271AAA (3) No penalty under the provisions of clause (c) of sub-section (1) of section 271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1) of Section 271AAA. IN THE ITAT AHMEDABAD BENCH Dr. Naman A. Shastri v. Assistant Commissioner of Income-tax, Central Circle… Read More »