Wednesday, 15 October 2014

No penalty on disclosure of income after search proceedings as time-limit for filing belated return

IT : Where after search in case of husband, assessee-wife filed return in response to notice under section 153C and income declared was accepted in assessment, in view of fact that sufficient time was still available for filing return, under section 139(4), assessee could not be held guilty of concealment liable to penalty


No comments:

Post a Comment