Penalty for late return: amendment treats returns filed under section 139(8A) within prescribed time as timely. The amendment adds a qualification to the proviso to the penalty provision so that a return furnished under the remedial late filing subsection within the time prescribed in that subsection is treated as a return furnished for purposes of the proviso, thereby recognising such late filed returns as within the temporal scope that bars initiation of penal proceedings under that proviso.
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Penalty for late return: amendment treats returns filed under section 139(8A) within prescribed time as timely.
The amendment adds a qualification to the proviso to the penalty provision so that a return furnished under the remedial late filing subsection within the time prescribed in that subsection is treated as a return furnished for purposes of the proviso, thereby recognising such late filed returns as within the temporal scope that bars initiation of penal proceedings under that proviso.
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