Penalty can be levied or not?
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 March 2013
if entry has been done in books of accounts then penalty can be levied or not?
CA PARAS BAFNA
(Expert)
09 March 2013
Penalty is levied when the law has been breached.
.
If entry has been made in the books but at the time of filing return or paying taxes, it has not been disclosed properly to avoid tax, then also penalty can be levied.
.
.
If entry has been made in the books but at the time of filing return or paying taxes, it has not been disclosed properly to avoid tax, then also penalty can be levied.
.
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