ITAT upholds Penalty leviable on Surrender made on Account of Discrepancy in Stock [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chandigarh bench has held that the penalty under Section 271AAB of the Income Tax Act was rightly imposed in the case where the assessee surrendered the short stock not accounted. The department initiated a search against the assessee under section 132 of the Act. During the course of the […]

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