Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Penalty levied u/s 221(1) - the reason for non-payment of self assessment tax was that it was not having liquid funds and all its funds were locked in shares and securities - penalty @ 5% of self assessment tax is on higher side - Reduced to 2.5% of self assessment tax - AT
Penalty levied u/s 221(1) - the reason for non-payment of self assessment tax was that it was not having liquid funds and all its funds were locked in shares and securities - penalty @ 5% of self assessment tax is on higher side - Reduced to 2.5% of self assessment tax - AT
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