Interest u/s 271aaa or 271 1(c)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 February 2012
In a search case, penalty which may be initiated/levied is 271AAA or 271 1(c)
Can both be initiated levied ? or only one penalty can be initiated ?
Pls guide urgently
Can both be initiated levied ? or only one penalty can be initiated ?
Pls guide urgently
14 February 2012
271AAA will be initiated. 271(1)(c) penalty can't be imposed on such undisclosed income vide section 271AAA(3).
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