TMI BlogPenalty proceedings u/s. 221(1) - default as per Section 220 - the AR of the assessee could not explain...Penalty proceedings u/s. 221(1) - default as per Section 220 - the AR of the assessee could not explain fund availability position on the due date of payment of advance tax as well as on the date of self-assessment tax i.e. date of filing of return. We also observe form the order of the authorities below, the assessment was completed u/s. 144 by rejecting the books of accounts of the assessee which clearly shows that the intention of the assessee was not in favour of the revenue for the payment ..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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