Penalty u/s 73

This query is : Resolved 

05 January 2012 one of my friend has been issued a notice to produce books of accounts and other documents so as to determine tax.
he has paid tax alongwith interest upto date after the issue of above said notice, but before issue of show cause notice. kindly advise me whether he is liable for penalty even after paying interest.urgent

06 January 2012 Sorry had written which was not applicable

06 January 2012 no penalty, but return to be filed




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