Penalty Waived for Late Self-Assessment Tax Due to Bona Fide Reasons u/s 221(1) of Income Tax Act.

Levy of penalty u/s 221(1) - Assessee did not pay self-assessment tax but filed return of income on due date - Penalty under section 221(1) is not automatic and mandatory. - Since it has bonafide reasons, penalty waived - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X