Penalty levy u/s 271(1)(c)
This query is : Open
Jashpreet kour
(Querist)
20 January 2021
In the original Income Tax Return the correct income. Was not reported but in response to Notice U/s 148, the correct income was reported, however the Tax Payment was done earlier before receipt of Notice u/s 148. Whether penalty u/s 271(1)(c) can be levied by Officer ?
Any judgement in favour of assessee ??
In the original Income Tax Return the correct income. Was not reported but in response to Notice U/s 148, the correct income was reported, however the Tax Payment was done earlier before receipt of Notice u/s 148. Whether penalty u/s 271(1)(c) can be levied by Officer ?
Any judgement in favour of assessee ??
CA Rashmi Gandhi
(Expert)
22 January 2021
Check M/s Padmini Infrastructure Developers India Ltd. v/s DCIT,Circle-14(1), New Delhi Case.
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