Penalty u/s 271F
This query is : Resolved
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
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
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.
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.
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.
Is there an case which I can refer to.
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.
Is there an case which I can refer to.
16 March 2009
IT SHOULD BE GENUINE CAUSE & CONVINCING TO ITO
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
no other cause or case law has been found.
the cause must be very convincing
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
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding appeal to GSTAT
- Form 121 & TDS deduction
- Copyright software
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding TDS Applicability For Director Remuneration
- LC charges in relation to Asset purchased should be Capitalised ?
- Transporter Declaration form
- Value of property in capital gain
- Multiple trade mark
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- 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
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
