Can Penalty for Concealment Survive If Income Declared in Return Filed Under Section 148 Is Accepted? ITAT Chennai Says No One of the most common assumptions in reassessment cases is that if a taxpayer offers additional income in response to a notice under Section 148, penalty for concealment under Section 271(1)(c) will automatically follow….
The post Can Penalty for Concealment Survive If Income Declared in Return Filed Under Section 148 Is Accepted? ITAT Chennai Says No appeared first on The Tax Talk.
