sec271(1)(c)

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Simran (Querist)
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28 September 2009 Pls explain me wen penalty of 100% wen 150% n wen 200% n wen 300% is levied . i dont understand wen different rates in wat different circumstances, de different rates r applied. pls dont forward me bare act or advise me to read bare act . These things i can get from any income tax book.Its a very lenthy sec n dere r four or 5 expalinations wich i av read thoroughly, but still i av so many confusions. pls expain all those expalainations in ur own words.

Ratan Sharma

Ratan Sharma (Expert)
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29 September 2009 If it is first default of the assessee then the penalty imposable is 100%.
If the assessee is habitually defaulter and willingly comitting such default then the penalty imposable is 300%.
How much penalty should be levied from 100% to 300% is the matter of judgement by the income Tax officer. It depends upon the circumstantial evidences, presence of mens rea, occurance of defaults, attitude of the assessee, non co-operation by the assessee etc.
There is no specific yardstick for determining the percentage of penalty. It solely depends upon the judgement of assessing officer.