Prosecution as per section 276CC of the Income Tax Act, 1961 for willful failure to file return of income in time under section 139(1), or in response to notice issued under section 142(1) or section 148 shall not be ini

Prosecution as per section 276CC of the Income Tax Act, 1961 for willful failure to file return of income in time under section 139(1), or in response to notice issued under section 142(1) or section 148 shall not be initiated where the tax payable on regular assessment as reduced by TDS and advance tax does not exceed