No Penalty If Assessee has reasonable cause for non-filing of Income Tax Return: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that no penalty under section 271F of the Income Tax Act, 1961 is leviable since the assessee was under an impression that the sale proceeds of agricultural activities do not attract income tax and the same is a reasonable cause to escape from […]

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