TMI BlogPenalty u/s 221(1) – Return filed without paying the tax liability - AO has power to not impose penalty...Penalty u/s 221(1) – Return filed without paying the tax liability - AO has power to not impose penalty if assessee proves to the satisfaction of the AO that the default was for good and sufficient cause - penalty waived - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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