Penalty u/s 271(1)(c) - assessee in response to the notice u/s...

Penalty u/s 271(1)(c) - assessee in response to the notice u/s 148 has offered capital gain and paid taxes thereon - Going by the language of section 148, that any such return filed under this section, replace his original return of income, for such purpose, such returned filled is treated as return filed u/s 139. - No penalty - AT