Answers On Topic: penalty under-reporting and misreporting
Dear sir, Penalty notice u/s 271B received on 11.11.2019, what is the time limit for completion of penalty proceeding.
► Read Answer
Sir, Are the penalty proceedings u/s 270A mandatory in nature? In every case where there is an addition made during assessment proceedings, will it result in initiation of penalty either by way of under reporting or mis reporting? Is the legal precedence established by the Hon'ble SC in various cases like that of Reliance Petro Products, Ashok Pai etc., no longer applicable?
► Read Answer
Penalty notice u/s 271B