Penalty proceedings u/s 271 (1) (C) or 276C - assessment u/s ...

High Court Rules: Filing Revised Tax Return Within Permissible Period Should Not Attract Penalty u/ss 271(1)(C) or 276C.

February 11, 2023

Case Laws Income Tax HC

Penalty proceedings u/s 271 (1) (C) or 276C - assessment u/s 153C - if an entity is legally entitled to file a revised return of tax, even in terms of Section 153C, within a period and if it does so within such period, the same cannot attach any further disadvantage to the entity for having done so. In this regard the stand of the Revenue that the assessee tried to evade penalty tax by revising return is also not quite tenable. - HC

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Penalty proceedings u/s 271 (1) (C) or 276C - assessment u/s ...

High Court Rules: Filing Revised Tax Return Within Permissible Period Should Not Attract Penalty u/ss 271(1)(C) or 276C.

February 11, 2023

Case Laws Income Tax HC

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