Levy of penalty u/s 271(1)(c) - Once the AO accepts the revised ...

Penalty u/s 271(1)(c) Not Applicable When AO Accepts Revised Return Filed u/s 153A.

June 18, 2018

Case Laws Income Tax AT

Levy of penalty u/s 271(1)(c) - Once the AO accepts the revised return filed u/s 153A, the original return under Section 139 abates and becomes non-est - assessee has voluntarily admitted the unexplained expenditure and AO has accepted the same - No penalty can be levied.

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Levy of penalty u/s 271(1)(c) - Once the AO accepts the revised ...

Penalty u/s 271(1)(c) Not Applicable When AO Accepts Revised Return Filed u/s 153A.

June 18, 2018

Case Laws Income Tax AT

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