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

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....-63 regarding penalty under sec. 221 of the Income-tax Act Circular 262 Dated 14/9/1979 To All Commissioners of Income-tax. Sir, Subject : Supersession of Circular No. 18D dated 15-7-63 regardi....

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....e due date but before the levy of penalty, some appellate authorities are cancelling the penalties on the ground that a departmental instruction issued on 15th July, 1963, in F.N. 58/13/63-IT (Circula....