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
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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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Published by

CA.Mohit Gupta
(Chartered Accountant)
Category Income Tax Report

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

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