Concealment penalty u/s 271(1)(c) time limit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 September 2012
Hello,
What is the time limit for leving penalty of concealment u/s 271(1)(c)? Can concealment penalty be levied now for income concealed in the year 1996?
What is the time limit for leving penalty of concealment u/s 271(1)(c)? Can concealment penalty be levied now for income concealed in the year 1996?
15 September 2012
Penalty under said section can be levied only when assessement is in force so if assesssement is completed then No such penalt can be levied
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