Penalty provision amendment clarifies treatment of returns filed for the first time following reassessment under section 148. Amendment modifies section 270A to broaden its application by substituting the phrase 'no return of income has been furnished' with wording that expressly includes returns furnished for the first time consequent to reassessment under section 148; corresponding substitutions are made in subsections (2)(e) and (3)(i)(b), with the changes deemed effective from 1 April 2017.
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Provisions expressly mentioned in the judgment/order text.
Penalty provision amendment clarifies treatment of returns filed for the first time following reassessment under section 148.
Amendment modifies section 270A to broaden its application by substituting the phrase "no return of income has been furnished" with wording that expressly includes returns furnished for the first time consequent to reassessment under section 148; corresponding substitutions are made in subsections (2)(e) and (3)(i)(b), with the changes deemed effective from 1 April 2017.
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