271f
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 June 2014
Penalty us 271F is mendatory or Discretionary?
As according to the view of many experts it is mandatory but in case of Loans from Bank where belated return is filed generally to fulfill the requirement of last three returns filed, no Penalty is seen Imposed by me ?how ? if it is Mandatory than penalty should have been imposed.
Reply me. Thanks !
As according to the view of many experts it is mandatory but in case of Loans from Bank where belated return is filed generally to fulfill the requirement of last three returns filed, no Penalty is seen Imposed by me ?how ? if it is Mandatory than penalty should have been imposed.
Reply me. Thanks !
18 June 2014
i dont think any expert is of opinion that it is mandatory. all the penalties whatsoever may be the cause, are discretionary subject to sufficient cause being provided by the assessee to the tax authorities during the penalty proceedings.
18 June 2014
It is at the discretion of AO after giving assessee a reasonable opportunity of being heard. He may or may not impose the penalty.
18 June 2014
if any mistake done by assesse or violence of law provision then penalty will impose by the deptt. but one chance always give by the dept before proceeding.
24 June 2014
depends on facts and circumstances of the case and its discretionary in nature.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- TDS Challan Code
- Refund of 20%pre-deposit paid for stay application
- Relief u/s Section 89
- Nomination of Bank for refund in itr 2
- Rent lease agreement
- Merchant Export Accounting
- SGST balance is there in credit ledger how to adjust for cgst
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
