Supersession of Circular No. 18D dated 15-7-63 regarding penalty under sec. 221 of the Income-tax Act

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Full Text of the Document

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....sp;  All Commissioners of Income-tax. Sir, Subject : Supersession of Circular No. 18D dated 15-7-63 regarding penalty under sec. 221 of the Income-tax Act. It has been brought to the notice of the Central Board of Direct Taxes that notwithstanding the amendment of section 221 of the Income-tax Act, 1961, through section 53 of the Taxation Laws (Amendment) Act, 1975, adding a specific....