Clerical Computational Errors in F&O Loss Reporting Do Not Constitute Undisclosed Income Warranting Section 271AAB Penalty
Clerical Computational Errors in F&O Loss Reporting Do Not Constitute Undisclosed Income Warranting Section 271AAB Penalty Issue Whether an addition of ₹40,688 arising from a clerical computational error in reporting Futures and Options (F&O) loss in the return of income constitutes “undisclosed income” under Section 271AAB(3)(c), thereby justifying the levy of penalty under Section 271AAB(1A).… Read More »