Man skipped ITR, declared Rs 12.9 lakh income after notice; ITAT cancels 200% penalty
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The man in this case failed to file his income tax return, and the Income Tax Department issued him a notice. He subsequently responded by filing an ITR for assessment year (AY) 2018-19, reporting an income of Rs 12.9 lakh. However, the Income Tax Assessing Officer (AO) took the view that this income would have remained outside the tax net had the department not issued the notice to the man. What's Your Reaction?
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