Clarification of amendment in Penalty for concealment provisions

Last updated: 16 March 2008


In view of the apprehension raised on the retrospective amendment to section 271 of the Income-tax Act, proposed in the Finance Bill, 2008, empowering the assessing officer to, inter-alia, levy penalty in case of concealment of income, the Ministry of Finance has issued the following clarification.

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Category Income Tax   Report

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