Benefit of exemption from penalty is available if intention to evade tax doesn’t appear at any stage of proceeding

INCOME TAX : Where assessee had proved beyond doubt that in a bona fide belief he had deposited tax at rate of 1 per cent under section 194-IA on gross sale consideration considering seller as resident Indian and later on before conclusion of proceedings before Assessing Officer, he had deposited correct amount of tax at rate of 20.6 per cent and applicable interest, he had a reasonable cause for said failure and was duly eligible to get benefit of provisions of section 273B

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