penalty u/s 271F

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2011 whether a penalty u/s 271F can be levied for not filling return in reference to the notice u/s 153C, more particularly when income assessed u/s 153C was nil.

U S Sharma

U S Sharma (Expert)
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09 July 2011 153C is independent rule to ask assessee to file return of previous years, whereas s/271 is related to penalty for late submission of return, s/271 mertis goes to assesseing officer for imposing penalty, he may weive the penalty for delay.

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