Self assessment-penalty u/s 140A.

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.... 1980 Reference Boards letter No.370/58/79-IT(B), dated 7th August 1979 on the above subject. 2. In view of the recent streamlining of the summary assessment scheme, the Board have decided that ....

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....tices can be issued in time for levy of penalty, wherever called for u/s.140A(3) of the I.T. Act in cases of non-payment/under-payment of self assessment tax. 4. A certificate should be obtained fr....