Thursday, September 15, 2011

NON - DECLARATION OF UNDISCLOSED INCOME IN BLOCK RETURN, AND IF THE ADDITIONS ARE SUSTAINED, PENALTY IS WARRANTED

The undisclosed income determined in the case of the assessee is not as a result of disallowing any claim of the assesse because the same is not allowable as per the provisions of law but undisclosed income has been determined on the basis of the evidences found during the course of search, which has established the fact that the true nature of transactions have not been recorded by the assessee in the books of account and the same has resulted the undisclosed income.

0 comments:

Post a comment