Immunity Granted from Penalty u/s 271(1)(c) Due to Lack of Proven Default and Time Limit in Section 132(4). https://www.taxtmi.com/highlights?id=5298 Penalty u/s 271(1)(c) - ince Clause (2) did not prescribe the time limit within which the assessee should pay tax on income disclosed in the statement under Section 132(4) no default proved - immunity from penalty granted - SC en-us Wed, 12 Sep 2012 23:23:46 +0530 Wed, 12 Sep 2012 23:23:46 +0530 TaxTMI RSS Generator Immunity Granted from Penalty u/s 271(1)(c) Due to Lack of Proven Default and Time Limit in Section 132(4). https://www.taxtmi.com/highlights?id=5298 Penalty u/s 271(1)(c) - ince Clause (2) did not prescribe the time limit within which the assessee should pay tax on income disclosed in the statement under Section 132(4) no default proved - immunity from penalty granted - SC Highlights Income Tax Wed, 12 Sep 2012 23:23:46 +0530 https://www.taxtmi.com/highlights?id=5298