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No Penalty on Income Surrendered During Survey: ITAT

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By Mariya Paliwala
ITAT

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The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has held that no penalty for concealment can be levied on income surrendered during a survey if the same is duly declared in the Income Tax Return (ITR). The bench of  BRR Kumar (Vice President) and T. R. Senthil Kumar (Judicial Member) has observed that “Concealment” must…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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