Automatic Penalty Enforced for Non-Filing of Returns u/s 158BD; Exceptions Not Applicable to Taxpayers.

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....Block assessment u/s 158BD - Penalty u/s 158BFA(2) - Penalty is almost automatic unless it is covered by the proviso. In the present case, return was not filed by these two assesses after receipt of notice u/s 158BD. Hence, the proviso is not applicable - AT....