Surrendering income to avoid litigation won’t save sec. 271AAA penalty unless its earning manner is disclosed

IT : Where assessee during search proceedings in reply to specific query raised by Assessing Officer expressed his inability to explain discrepancy in stock in order to substantiate manner in which income in question had been derived rather categorically stated that he had made voluntary surrender of Rs.21 crores in order to buy peace of mind and avoid litigation, assessee having failed to specify manner and substantiate manner in which undisclosed income was derived rather embarked upon mercy p

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