Menu
Power to waive the penalty lies with whom?
Hi,
Assessee has got some unexplained drawings( no supporting documents). AO has charged the same as income by saying that it is hidden Income and assessee has agreed for charging as the same as income. my doubt is whether the AO has power to waive the Penalty for hidden Income?
Replies (4)
You have to make an application separately to waive the penality
Powers are with the comissioner of income tax
Is there any case law or Rule stating that we can make an application to Assessing officer?
power is held with comissioner or Principal comissioner only
ok.. thank u so much
Recent Topics :
- Generate E-Way Bill for 4 Nos. Suppliers Involveme
- Section 54F Exemption
- Would you use a free, open-source alternative to s
- Business & Finance
- Report in GSTR 1 ( Credit Note ) for Wrong GST Rat
- Reply of summons issued under section 70 of the cg
- How to Bulk GSTIN Number Verify and Validation
- OPC Annual Filing Defaults – Need Guidance t
- OPC Annual Filing Defaults – Need Guidance t
- FCGPR of a past period
Related Topics :
CAclubindia
