Mistake of levying penalty in current AY for default related to prior AY can’t be cured by Sec. 292B: HC

INCOME TAX : Where Assessing Officer taking into account fact that assessee made default in payment of tax in respect of assessment year 2007-08, held assessee to be in default and levied penalty under section 221, in respect of assessment year 2008-09 in which assessee had paid tax, such mistake could not be covered under section 292BINCOME TAX : Where Assessing Officer taking into account fact that assessee made default in payment of tax in respect of assessment year 2007-08, held assessee to be in default and levied penalty under section 221, in respect of assessment year 2008-09 in which assessee had paid tax, such mistake could not be covered under section 292Bwww.taxmann.com Latest Case LawsRead More

Leave a Reply