Penalty under direct taxes.
This query is : Resolved
16 September 2008
Whether 'mens rea' is to be proved to levy/confirm penalty u/s 271C of the Income Tax Act,1961.
16 September 2008
For the purpose of levy of penalty u/s 271C existence of mens rea is not necessary as nothing has been provided in the language of the section to this effect. The only requirement before levy of penalty u/s 271C is to see whether there existed a reasonable cause as required u/s 273B of the Act or not.
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