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Law Firm Partner Penalized u/s 271F for Not Filing Income Tax Return; Ignorance Not a Valid Excuse.
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....Penalty u/s. 271F - non- filing of ITR - Reasonable cause for failure - assessee is an Advocate by profession and is also a partner in a law firm - ignorance of law is no excuse - The assessee is in a higher footing than any other person to be aware of the provisions of the statute nevertheless to mention that he has to abide by the said law. - AT....
TaxTMI
TaxTMI