1 result for “penalty u/s 271”+ Section 125clear
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125 ITR 373 (MP) and Hon'ble Allahabad High Court in the case of (2005)275 ITR (All) had taken a view that non-initiation of penalty proceedings is sufficient reason for invoking provisions of section 263 of the Act. In the case of Surendra Prasad Agarwal (supra), the Hon'ble High Court had considered several decisions quoted