[aaykarbhavan] No concealment penalty on surrender of income during survey if assessee had no intention to evade tax

No concealment penalty on surrender of income during survey if assessee had no intention to evade tax

February 10, 2015[2015] 53 taxmann.com 226 (Andhra Pradesh)

IT : Where survey did not result in recovery of any specific amount and figures were arrived at by way of presumptive computation, there being no intention to evade tax, no penalty was to be levied under section 271(1)(c)

 

Regards

Prarthana Jalan

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

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