TV. Magaadevan Versus Deputy Commissioner of Income-tax - Income Tax - ITAT CHENNAI - Tri - Penalty u/s 271(1)(c) - The assessee filed his return of income for assessment year 2004-05 on December 12, 2006 showing income of Rs.4,99,140 and for the assessment year 2005-06 filed a return of income on December 31, 2007 showing income of Rs. 10,49,250 The penalty was levied for not filing the return within the time allowed for filing of return - Held that - The returns of income were not valid retu................................... Income Tax - Case Laws
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