May 2023

Power of Principal Commissioner or Commissioner to grant immunity from penalty (1) A person may make an application to the Principal Commissioner or Commissioner for granting immunity from penalty, if— (a)  he has made an application for settlement under section 245C and the proceedings for settlement have abated under section 245HA; and (b)  the penalty proceedings have been […]

Power to reduce or waive penalty, etc., in certain cases (1) Notwithstanding anything contained in this Act, the Principal Com- missioner or Commissioner may, in his discretion, whether on his own motion or otherwise,— (i)   [***] (ii)  reduce or waive the amount of penalty imposed or imposable on a person under section 270A or clause (iii) of

False estimate of, or failure to pay, advance tax (1) If the Assessing Officer, in the course of any proceedings in connection with the regular assessment for any assessment year, is satisfied that any assessee— (a) has furnished under clause (a) of sub-section (1) of section 209A a statement of the advance tax payable by him which

Penalty for failure to comply with the provisions of section 206CA  (1) If a person fails to comply before the 1st day of October, 2004 with the provisions of section 206CA, he shall, on an order passed by the Assessing Officer, pay, by way of penalty, a sum of ten thousand rupees. (2) No order under

Penalty for failure to comply with the provisions of section 203A (1) If a person fails to comply with the provisions of section 203A, he shall, on an order passed by the Assessing Officer, pay, by way of penalty, a sum of ten thousand rupees. (1A) If a person who is required to quote his “tax

Penalty for failure to comply with the provisions of section 139A (1) If a person fails to comply with the provisions of section 139A, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees. (2) If a person who is required to quote his permanent account

Penalty for failure to comply with the provisions of section 133B (1) If a person fails to comply with the provisions of section 133B, he shall, on an order passed by the Joint Commissioner, Assistant Director or Deputy Director or the Assessing Officer, as the case may be, pay, by way of penalty, a sum which

Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc (1) If any person,— (a)  being legally bound to state the truth of any matter touching the subject of his assessment, refuses to answer any question put to him by an income-tax authority in the exercise of its powers

Failure to give notice of discontinuance [Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.]

Penalty for failure to furnish statements, etc Without prejudice to the provisions of this Act, the Assessing Officer may direct that a sum not less than ten thousand rupees but which may extend to one lakh rupees shall be paid by way of penalty by— (i)  the research association, university, college or other institution referred