Not striking-off of limb of penalty u/s 271AAB – ITAT deleted penalty as assessee was not made aware of the…
Under section 271AAB undisclosed income also means additional income due to bogus expense recorded in the books of accounts -…
Income Tax Penalty u/s 271AAB deleted as assessee was declaring income on presumptive basis, was not required to maintain books…
Market value of stock instead of cost no basis to determine undisclosed income. Penalty u/s 271AAB not mandatory ABACUS Case…