Penalty u/s 271F

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Altaf (Querist)

15 March 2009 Hi,

For non filing of return, according to sec 271F there is a penalty of Rs. 5000 /-, but I have heard that the same has not been levied on any one inspite of late filing of returns.

Please confirm if i am correct & let me know if the ITO needs to take any prior permission before levying the same.

Thanks
Altaf

Manmohan ACA, CS

Manmohan ACA, CS (Expert)

16 March 2009 273B. Penalty not to be imposed in certain cases
No penalty is leviable under sections 271(1)(b), 271A, 271AA, 271B, 271BA,271BB, 271C,
271CA, 271D, 271E, 271F, 271FA, 271FB, 271G, 272A(1)(c) or 272(A)(1)(d), 272A(2),
272AA(1), 272B, 272BB(1) & (1A), 272BBB(1), 273(1)(b), 273(2)(b) or 273(2)(c) if the
assessee proves that there was reasonable cause for the said failure.

Altaf

Altaf (Querist)

16 March 2009 What should be a reasonable cause to be given to an ITO for non filing of returns in time limit.

Is there an case which I can refer to.

Altaf

Altaf (Querist)

16 March 2009 What should be a reasonable cause to be given to an ITO for non filing of returns in time limit.

Is there an case which I can refer to.

HUZAIFA HUSSAIN

HUZAIFA HUSSAIN (Expert)

16 March 2009 IT SHOULD BE GENUINE CAUSE & CONVINCING TO ITO

Manmohan ACA, CS

Manmohan ACA, CS (Expert)

17 March 2009 a cause find out in a case law is that the books of a/c of assessee was seized under excise duty Act.

no other cause or case law has been found.

the cause must be very convincing

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