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CA Fianl Direct Tax Penalty 1
CA Fianl Direct Tax Penalty 1
Introduction
Consequence
Penalty Prosecution
an assessee who commits any offence under the provisions of the Act.
2. Penalty is levied over and above the amount of any tax or interest
payable by the assessee and thus, penalty is distinct and different from
proceedings.
in the course of any proceedings under the Act that a person has been
found guilty of any default in complying with the provisions of the Act.
assessment.
If CIT u/s 263 increases the income, then he must initiate the penalty
time. Penalties such as penalty for failure to get tax audit done, penalty
10. Penalty order and assessment order are distinct order. Similarly,
proceedings.
11. Penalty is levied by passing a penalty order. Against the penalty order
application can be made u/s 154. Against the penalty order passed by
ii. Section 274(2) stipulates obtaining prior approval of the Joint CIT by
amount specified.
technologically feasible
functional specialization
authorities