[aaykarbhavan] No penalty if assessee offers undisclosed income to tax in return filed pursuant to search of another person

No penalty if assessee offers undisclosed income to tax in return filed pursuant to search of another person

September 22, 2014[2014] 49 taxmann.com 39 (Jodhpur - Trib.)/[2013] 158 TTJ 42 (Jodhpur - Trib.)

IT : Where pursuant to search proceedings in case of another person, assessee filed a return declaring certain undisclosed income which was duly accepted while framing assessment under section 143(3), read with section 153A, there being no concealment of particulars of income, impugned penalty order passed under section 271(1)(c) was to be set aside

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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