Income-tax and Corporate Tax Planning - Income Tax and Corporate Tax Planning Section 1

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16. The penalty levied under section 271G cannot be waived by virtue of section 273B even though the taxpayer proves a reasonable cause for failure.

  • Option : B
  • Explanation : By virtue of section 273B penalty under section 271G will not be imposed if the taxpayer proves a reasonable cause for failure.
    Thus, the statement given in the question is false and hence, option (b) is the correct option.
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