Wednesday 27 November 2013

Scope of Sections 271AAA and 271(1)(c) expired

IT : Where for assessment years 2007-08 and 2008-09 assessee filed returns of income on 5-7-2007 and 7-7-2008 respectively and later on 15-10-2008 authorised officer conducted a search under section 132 upon assessee and found undisclosed income, provisions of sub-section (1) of section 277AAA were not applicable to instant case and penalty, if any, was imposable under section 271(1)(c)


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