Sec 68
This query is : Resolved
26 February 2014
I am a salaried employee and don't maintain any books of accounts. I have disclosed my other sources income by filing return u/s 148 and paid all the taxes much before the issuing the notice u/s 148 and there was no chance of filing revised return. Whether I am liable to charge u/s 68 of I.T. Act i.e. undisclosed cash credit
26 February 2014
yes still they can inovke sec 68 as you have just replied in notice u/s 148 and then u disclosed but not voluntarly as and when it should have been disclosed u/s 139(1) return.
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