https://www.taxtmi.com/highlights?id=45869 Penalty u/s 271(1)(c) under Explanation 5A - no return u/s 139(1) - return filed u/s 153A disclosing Capital Gain which was accepted - it is neither a case of bonafide mistake nor a case of bonafide belief but it is a continues default on the part of the assessee for not filing even return of income despite the activity in the real estate and earning the income therefrom - penalty upheld en-us Sat, 13 Apr 2019 05:57:57 +0530 Sat, 13 Apr 2019 05:57:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=45869 Penalty u/s 271(1)(c) under Explanation 5A - no return u/s 139(1) - return filed u/s 153A disclosing Capital Gain which was accepted - it is neither a case of bonafide mistake nor a case of bonafide belief but it is a continues default on the part of the assessee for not filing even return of income despite the activity in the real estate and earning the income therefrom - penalty upheld Highlights Income Tax Sat, 13 Apr 2019 05:57:57 +0530 https://www.taxtmi.com/highlights?id=45869