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Penalty when the return filed u/s 148 is a refund.

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Dhruv Jain

Practicioner

153 Points Posted on 27 March 2022

Assessee has not filed the return of Income for AY 2018-19 against which he had received notice under section 148.

On Filing the return of income u/s 148 the assessee is claiming a refund.

We wanted to know the penalty which can be levied by the AO if there is a refund.

Thanking you.

Replies (12)

Quick Summary

This discussion explores penalties for filing a Section 148 return of income when the assessee had previously failed to file for AY 2018-19 and the final outcome is a refund. While Section 234F late filing fees may apply, the conversation delves into whether other penalties, such as Section 270A for underreported income, can be levied even when there's no actual tax liability and the assessee is due a refund.

Eswar Reddy S

CFO- at NHTF

15022 Points Posted on 27 March 2022

234F late fee may be deducted from refund and general penalties will be applicable for violation of law for non filing ITR

Vishal Manakshe

178 Points Posted on 27 March 2022

If the assessee was not liable to file return u/s 139 at that time, then there shall be no penalty u/s 148

Eswar Reddy S

CFO- at NHTF

15022 Points Posted on 27 March 2022

Generally , the dept obtains information from various sources and they the notice only if the tax payer liable to file ITR

Vishal Manakshe

178 Points Posted on 27 March 2022

Sir, in many cases, Dept gets wrong information such as huge cash amount deposited into bank account and etc

but only cash deposits made by the assessee does not mean that the assessee had income liable for tax and he was liable to file the ITR.

Eswar Reddy S

CFO- at NHTF

15022 Points Posted on 27 March 2022

Yeah. Possibility is there but tax database has lot of information..One can check it from 26ASand AIR ,

Dhruv Jain

Practicioner

153 Points Posted on 27 March 2022

The case is of non filer of ITR and the final computation comes to a refund. Apart from late filing fees leviable, are there any other penalty which can be levied to the assessee

Eswar Reddy S

CFO- at NHTF

15022 Points Posted on 27 March 2022

How much is the total income ?

Dhruv Jain

Practicioner

153 Points Posted on 27 March 2022

25 lacs

Eswar Reddy S

CFO- at NHTF

15022 Points Posted on 27 March 2022

Section 270A and 234F , these may come into picture

Dhruv Jain

Practicioner

153 Points Posted on 27 March 2022

270 A even though when there is no tax liability?

Eswar Reddy S

CFO- at NHTF

15022 Points Posted on 27 March 2022

Since you have not filed ITR , the total income may come under ,,, unreported or underreported income and 270A may be induced by officer

sabyasachi mukherjee

Profession

19978 Points Posted on 28 March 2022

If the assesse has not filed return under Sec 148 I.e. a revised return . Demand have been paid fully. Now in case the id is blocked what is the remedy.