Declaration of undisclosed income to "buy peace" does not renders an assessee immunity from initiation and levy of penalty

CA.Mohit Gupta , Last updated: 30 January 2022 Share Follow on Google News

Introduction The legislature has intentionally drafted the provisions relating to Search and Survey in the statue book of Income Tax Act, 1961 with the target of unearthing the undisclosed income of any person in form of any money, bullion, jewellery or other valuable article or thing. Search

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About the Author

CA.Mohit Gupta

Chartered Accountant

CA.Mohit Gupta B.Com(H),FCA,DISA ABOUT CA.MOHIT GUPTA Mr. Mohit Gupta is a Fellow Member of the Institute of Chartered Accountants of India, a commerce graduate from prestigious Ramjas College, Delhi University and an alumni of St. Xaviers School, New Delhi. He is practicing as a Chartered Accountant fo ... Read more

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Declaration of undisclosed income to "buy peace" does not renders an assessee immunity from initiation and levy of penalty

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