Clarification of amendment in Penalty for concealment provisions

Last updated: 16 March 2008

In view of the apprehension raised on the retrospective amendment to section 271 of the Income-tax Act, proposed in the Finance Bill, 2008, empowering the assessing officer to, inter-alia, levy penalty in case of concealment of income, the Ministry of Finance has issued the following clarification.

You have reached daily limit of 2 Free News. To view this or other News please subscribe to CCI PRO :

GST Plus

Stay updated! Stay ads free

Browse CAclubindia ads free.
Latest updates on WA.
Daily E-Newsletter and much more.

CCI PRO annual subscription :

Original Price : INR 2999/-

Offer Price : INR 1999/-

Duration : 1 year
(Prices Inclusive of GST)


Know More

Note: If you are a PRO member already, please click here to login (for ad free experience)

CCI Pro

Category Income Tax   Report

Comment   Share
  4509 Views
Comments

Recent News :

  1. Income Tax Department Withdraws Long-Pending Rs 8500 Crore Transfer Pricing Case Against Vodafone India
  2. CAT Cuttack Imposes Rs 20,000 Cost on CBIC Officer for Non-Compliance in Suspension Case
  3. ICAI Presents Pre-Budget Suggestions for Union Budget 2026-27
  4. Income Tax Department Warns Taxpayers Against Fake Messages and Phishing Scams
  5. Finance Ministry Invites Industry Suggestions for Union Budget 2026-27 on Direct and Indirect Taxes
  6. CBI Books CGST Assistant Commissioner in Jaipur for Rs 2.54 Crore Disproportionate Assets
  7. GST Officers Seize Records in Rs 35 Crore Tax Evasion Probe Against J Infratech
  8. UPI Transactions Hit Record Rs 27.28 Trillion in October 2025
  9. ITAT Delhi Favors Taxpayer in Rs 8.68 Lakh Cash Deposit Case
  10. PMLA Court Denies Bail to IPS Officer's Husband in Rs 263 Crore IT Refund Scam

More »


Popular News




CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Trending Online Classes

view all classess

Follow us

Browse by Category