Determination of Income in Assessment Order cannot be basis for Filing of ITR u/s 139 (1): ITAT Quashes Penalty u/s 271 F of Income Tax Act [Read Order]
Determination of income in the assessment order cannot be said to be the basis for filing of return of income under Section 139(1) of the Income Tax Act, 1961
The Income Tax Appellate Tribunal (ITAT) quashes penalty under Section 271F of the Income Tax Act, stating that determination of income in the assessment order cannot serve as the basis for filing Income Tax Return under Section 139(1) of the Income Tax Act, 1961 The fact remains that the impugned penalty under Section 271F of…
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