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Income Tax dept. unearthed Undisclosed Income of worth Rs. 45,622 Cr, says MoS Santosh Kumar Gangwar
As part of enforcement measures and based upon credible evidence of tax evasion and other serious violations of provisions of the Income-tax Act,...
![No Penalty if the Assessee Admits his Undisclosed Income during the Course of Search Proceedings: ITAT Ahmedabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/Penalty-TaxScan.jpg "No Penalty if the Assessee Admits his Undisclosed Income during the Course of Search Proceedings: ITAT Ahmedabad [Read Order]")
No Penalty if the Assessee admits Undisclosed Income during the course of proceedings: ITAT Mumbai [Read Order]
In a significant ruling,  Mumbai bench of the Income Tax Appellate Tribunal, in a recent ruling, held that the benefit if section 271(1)(c) shall be given if the assessee is ready to admit his/her...
![No Penalty if the Assessee admits Undisclosed Income during the course of proceedings: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "No Penalty if the Assessee admits Undisclosed Income during the course of proceedings: ITAT Mumbai [Read Order]")
Failure of the Assessee to Prove the Legality of his Undisclosed Income will not attract Penalty u/s 271(1)(c); ITAT Hyderabad [Read Order]
The Hyderabad bench of Income Tax Appellate Tribunal recently held that the failure on the part of the assessee to substantiate the legality of his undisclosed income will only attract assessment...
