Faceless Penalty Scheme 2021 -Exception where few provisions of the Income Tax Act not applicable to the Scheme
For the purposes of giving effect to the Faceless Penalty Scheme 2021 (the Scheme) the CBDT vide Notification No. 03/2021 has made several directions.
It has been provided that the provisions of section 2, section 120, section 127, section 129, section 131, section 133, section 133C, section 136 and Chapter XXI of the said Act shall apply to the procedure for imposing penalty in accordance with the Scheme subject to exceptions, modifications and adaptations provided in the directions.
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- In absence of any stipulation to maintain creditor’s PAN, no adverse view may be drawn
- Form 26 to replace Form 3CD of tax audit report by a CA from Tax Year 2026-27
- When no addition is made on the basis of reasons recorded, reopening is bad in law
- No separate compensation for loss of love and affection under MV Act – SC
- Trust accredited by National Open School eligible for registration u/s 12AB & u/s 80G
