Monday 13 January 2014

Filing of return before due date isn’t a pre-requisite for availing of immunity from concealment pen

IT : Where assessee surrendered income during search, explained manner in which it was derived in statement and paid tax as well as interest thereon, it was not necessary to file return before due date to get immunity from penalty for concealment under clause (2) of Explanation 5 to section 271(1)(c)


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