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During survey any income surendered can assessing officer

This query is : Resolved 
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(Querist)
30 December 2015 can impose any penalty under section 271 a/b/c for survey case if assessee has been submitted his itr with surender income
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
02 January 2016 In such cases legally it is well withing powers of AO to levy penalty since it is only during survey that undisclosed income was found and accepted by the assessee. But sometimes there is understanding between the assessee and the AO that if income is surrendered in ITR and tax paid on it penalty will not be levied.
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