Income-tax Act, 1961
Section - 270A - Penalty for under-reporting and misreporting of income
Penalty for under-reporting and misreporting of income.270A. (1) The Assessing Officer or 94[the Joint Commissioner (Appeals) or] the Commissioner (Appeals) or the Principal Commissioner or Commissioner may, during the course of any proceedings under this Act, direct that any person who has under-reported his income shall be liable to pay a penalty in addition to tax, if any, on the under-reported income.(2) A person shall be considered to have under-reported his income, if-
| (a) | - | the income assessed is greater than the income determined in the return processed under clause (a) of sub-section (1) of section 143; |
| (b) | - | the income assessed is greater than the maximum amount not chargeable to tax, where no return of income has been furnished or where return has been furnished for the first time under section 148; |
| (c) | - | the income reassessed is greater than the income assessed or reassessed immediately before such reassessment; |
| (d) | .... To read the full section download the app from Google Play store
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