Tag: Section 271AAD

AO empowered to Provisionally attach property u/s 281B in Fake Invoice cases during pendency of penalty proceedings under section 271AAD Provisional attachment in Fake Invoice cases Provisional attachment in Fake Invoice cases Section 281B of the Income Tax Act 1961 contains provisions which provide that in cases of …

Penalty for fake invoice. New Section 271AAD. Penalty for false entry, etc. in books of account With the launch of Goods & Services Tax (GST), several cases of fraudulent input tax credit (ITC) claim have been caught by the GST authorities. In these cases, fake invoices are obtained …