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SECTION 80 OF FINANCE ACT

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08 June 2009 SHOW CAUSE NOTICE U/S 76/77/78

PENALTY REDUSED U/S 80

WHAT IS THE POSITION
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MAHENDRA SHAH

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MAHENDRA SHAH (Querist)
08 June 2009 SECTION 80 OF FINANCE ACT 1994
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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.
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