Limitation under Section 73A does not preclude levying penalty for late voluntary estate duty returns. Section 73A bars revenue authorities from commencing estate duty proceedings after five years, but a return voluntarily filed after that period remains a return under the filing provisions and may be assessed; moreover, penalty proceedings for late filing may be initiated and penalty levied where a person without reasonable cause failed to deliver the required accounts or return within the stipulated time.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Limitation under Section 73A does not preclude levying penalty for late voluntary estate duty returns.
Section 73A bars revenue authorities from commencing estate duty proceedings after five years, but a return voluntarily filed after that period remains a return under the filing provisions and may be assessed; moreover, penalty proceedings for late filing may be initiated and penalty levied where a person without reasonable cause failed to deliver the required accounts or return within the stipulated time.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
