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revised return after notice u/s. 154. penalty u/s 271(1)(c)

Started by rajul5234, February 18, 2011, 12:36:07 PM

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rajul5234

assessee was a firm and for past years no claim was made u/s 80 IA. thereafter , 80 IA was claimed in same status.

notice u/s 154 issued for another asst. year.. revised return filed  to withdraw claim. penalty u/s 271 (1) (c)  deleted by court

since there was no evidence of any detection in notice u/s 154. dharmendra tex. s.c. considered and penalty deleted even

without  aid of reliance petro s.c. judgement. mistake of claim considered to be bonafide.

refer  50 D. T. R. 321 Guj. Backbone enterprise