Tag: immunity from penalty

Show cause notice for penalty u/s 270A not specifying limb i.e. mis-reporting or under-reporting was bad in law – High Court In a recent judgment, the Hon’ble Delhi High Court has held that show cause notice for penalty u/s 270A not specifying limb i.e. mis-reporting or under-reporting was …

Application seeking immunity u/s 270AA of the Income Tax Act shall not preclude assessee from contesting the same issue in any earlier assessment year-CBDT Circular No. 5/2018 F. No. 370149/155/2018-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) New Delhi, Dated 16th …

Form No 68 application us 270AA2-grant of immunity from penalty provisions u/s 270A of the Income-tax Act 1961 The Budget 2016-17 (Finance Act, 2016) has provided for the rationalisation of the penalty provisions under the Income Tax Act, 1961. Section 271 related to penalty for failure to furnish return, …