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penalty for improper use of names
The government is mulling hiking penalty for improper use of names and emblems conveying state patronage or ownership for the purpose of professional and commercial gains to Rs 5 Lakh. At present, the penalty for violating the provisions of the Emblems and Names (Prevention of Improper Use) of 1950 is only Rs 500.
“The penalty has not been increased since the law came into force in September 1950. As a result, lower penalty has made the law ineffective. We are thinking of an amendment to the Act to increase penalty to at least Rs 5,00,000″, a senior government official told PTI.
Indiscriminate use of names, flags and emblems misleads the consumers. So, it is necessary to impose higher fine as some offenders are big corporations and institutions who get away easily by paying existing meagre penalty of Rs 500, the official said.
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Disallowing deduction claimed by the assessee
Penalty under s 271FA is leviable if the assessee fails to respond to the notice for failure of filing annual information return
Prior period expenses not to be deducted while computing book profit for the purposes of section 115JA
Provisions of s 194C do not apply towards the transportation
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