Circular : No. 582-Income Tax Vide Circular No. 422, dated 19th June, 1985 (Clarification 2), the Board had directed that the penalty proceedings under section 271B of the Income-tax Act, leviable for non-compliance of the provisions of section 44AB of the Act, should not be initiated for the assessment year 1985-86 in cases where
Circular No.583 – Income Tax The President has promulgated an Ordinance (No. 8 of 1990) on 15-10-1990. The Ordinance is named as the Finance (Second Amendment) Ordinance, 1990. The Ordinance has come into force at once. By this Ordinance, section 2 of the Finance Act, 1990 (No. 12 of 1990) and Parts II and III of the First Schedule to the said Act have been amended
