SECTION 80 OF FINANCE ACT
This query is : Resolved
08 June 2009
SHOW CAUSE NOTICE U/S 76/77/78
PENALTY REDUSED U/S 80
WHAT IS THE POSITION
PENALTY REDUSED U/S 80
WHAT IS THE POSITION
08 June 2009
SECTION 80 OF FINANCE ACT 1994
08 June 2009
80. Penalty not to be imposed in certain cases. –
Notwithstanding anything contained in the provisions of section 76, section 77 or section 78, no penalty shall be imposable on the assessee for any failure referred to in said provisions, if the assessee proves that there was reasonable cause for the said failure.
Which means,if an SCN is received u/s 76,77 and or 78 if the service provider can prove the failure was on account of a reasonable cause, by a written reply to the said SCN, penalty proposal will be waived.
Notwithstanding anything contained in the provisions of section 76, section 77 or section 78, no penalty shall be imposable on the assessee for any failure referred to in said provisions, if the assessee proves that there was reasonable cause for the said failure.
Which means,if an SCN is received u/s 76,77 and or 78 if the service provider can prove the failure was on account of a reasonable cause, by a written reply to the said SCN, penalty proposal will be waived.
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