hello Experts
one of the may client has filed ITR4 for the AY 2012-2013 in repect of the relevent previous year and received a notice u/s 133(6) as on 5/9/2013 and another notice u/s 148 as on 8/10/2013, notice for income esceped assessement, and in reponse of the notic u/s 148 assessee filed a revised return on 31/10/2013 and declared an income, which was not shown in orginal return, of rupees 5,35,285 under the head capital gain, on which tax, including interest, was paid on 29/10/2013. further, assessement was conducted u/s section 143(3) & 147 and asseessing officer found everything correct in respect of such capital gain & tax thereon , but however, on 19/12/2013 assessee received a notice u/s 271(1)(c) for penalty. so i want to know whether the assessee should pay the penalty amount or insist on the ground that i have declared my ncome in revised ITR-4 and paid tax thereon, please explain with suitable case laws as soon as possible
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