11 October 2010
pls tell me if any person has not filled return of income for the period(2007-08 & 2008-09) & receives a notice for the same from the i t department.whether it is compulsory to file the return if the assessee does not had any income in that period. for your convience the assseee had filled his earlier returns as a transport agency and computing his income on presumptive basis. whether the penalty of rs 5000/- is leviable in this case