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Sec 271(1)(c)

This query is : Resolved 
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(Querist)
05 November 2015 If revised return filled after serving notice 143(2)
liable to penalty u/s 271(1)(c)

and any concealment is there ?
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Amol S Joglekar

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Amol S Joglekar (Expert)
05 November 2015 If any person, having furnished a return under sub-section (1), or in pursuance of a notice issued under sub-section (1) of section 142, discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.
Under these circumstances, 271 (1) (c) can not be initiated.
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Yogesh Agarwal

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Yogesh Agarwal (Expert)
07 November 2015 Agreed with the expert...
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