Penalty
This query is : Resolved
27 September 2015
can assessee set off the penalty and under 44AB with income tax refund.
Amol S Joglekar
(Expert)
27 September 2015
assessee can NOT set it off. However assessee can request Assessing Officer to do so.
27 September 2015
Assessee cannot do so voluntarily. But Income tax department can set off refund against penalty .
Reference - section 245.
Reference - section 245.
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