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Supreme Court Partially Allows Appeal on Penalty Under Section 271AAA of Income Tax Act: Holds Penalty Not Applicable on ₹2.27 Crores Due to Compliance with Statutory Conditions, Imposes 10% Penalty on ₹2.49 Crores for Non-Disclosure During Search
Court’s Decision The Supreme Court, in this judgment, addressed the issue of whether the appellant was liable to pay penalties under Section 271AAA(1) of the Income Tax Act, 1961. It…
