Voluntary surrender of income does not mean immunity from penalty

FCS Deepak Pratap Singh , Last updated: 19 January 2022  
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Mak Data P. Ltd. v. CIT (2013) 358 ITR 593 (SC) Sub: Can an assessee who has surrendered his income in response to the specific information sought by the Assessing Officer in the course of survey, be absolved from the penal provisions under section 271(1)(c) for concealment of income? FACTS

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Published by

FCS Deepak Pratap Singh
(Associate Vice President - Secretarial & Compliance (SBI General Insurance Co. Ltd.))
Category Income Tax   Report

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