No Section 271AAB penalty In absence of mechanism to report investment in tax return

Gauri Shankar Kandoi Vs DCIT (ITAT Jaipur)

Given that the assessee is a salaried person who is not required to maintain any books of accounts and there is no mechanism to report the investment in the tax return, the said investment cannot be held as undisclosed investment and more so, undisclosed income so defined in section 271AAB of the Act. In light of the same, the investment of Rs. 17

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