Penalty provision exclusion: non-application to relevant income-tax assessments commencing on or after 1 April 2017. The Finance Act, 2016 adds subsection (7) to section 271 providing that the provisions of section 271 shall not apply to any assessment for assessment ... Summary
Penalty provision exclusion: non-application to relevant income-tax assessments commencing on or after 1 April 2017.
The Finance Act, 2016 adds subsection (7) to section 271 providing that the provisions of section 271 shall not apply to any assessment for assessment years commencing on or after 1 April 2017, thereby excluding the penalty-related provisions of section 271 from such assessments.
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