244 results for “penalty u/s 271”+ Section 2(22)(e)clear
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Appeals are allowed
Bench: Shri Vijay Pal Rao & Shri B.M. Biyani
E. Even the quantum of penalty leviable u/s 271AAB is also subject to the condition prescribed under clauses (a) to (c) of sub-section (1) and the AO has to again give a finding for levy of penalty @ 10% or 20% or 30% of the undisclosed income. Thus the AO is bound to take a decision as to what default