Failure to comply with the provisions of sub-sections (1) and (3) of section 178 If a person—  (i)  fails to give the notice in accordance with sub-section (1) of section 178; or (ii)  fails to set aside the amount as required by sub-section (3) of that section; or (iii) parts with any of the assets of […]

Removal, concealment, transfer or delivery of property to thwart tax recovery Whoever fraudulently removes, conceals, transfers or delivers to any person, any property or any interest therein, intending thereby to prevent that property or interest therein from being taken in execution of a certificate under the provisions of the Second Schedule shall be punishable with

Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132  If a person who is required to afford the authorised officer the necessary facility to inspect the books of account or other documents, as required under clause (iib) of sub-section (1) of section 132, fails to afford such facility to the

Contravention of order made under sub-section (3) of section 132 Whoever contravenes any order referred to in the second proviso to sub- section (1) or sub-section (3) of section 132 shall be punishable with rigorous imprisonment which may extend to two years and shall also be liable to fine.

Bar of limitation for imposing penalties (1) No order imposing a penalty under this Chapter shall be passed— (a)  in a case where the relevant assessment or other order is the subject-matter of an appeal to the58-59[Joint Commissioner (Appeals) or to the] Commissioner (Appeals) under section 246 or section 246A or an appeal to the Appellate Tribunal under section 253, after

Procedure (1) No order imposing a penalty under this Chapter shall be made unless the assessee has been heard, or has been given a reasonable opportunity of being heard. (2) No order imposing a penalty under this Chapter shall be made— (a)  by the Income-tax Officer, where the penalty exceeds ten thousand rupees; (b)  by

Penalty not to be imposed in certain cases Notwithstanding anything contained in the provisions of clause (b) of sub- section (1) of section 271, section 271A, section 271AA, section 271B, section 271BA, section 271BB, section 271C, section 271CA, section 271D, section 271E, section 271F, section 271FA, section 271FAB, section 271FB, section 271G, section 271GA, section 271GB, section 271H, section 271-I, section 271J, clause (c) or clause (d) of sub-section (1) or sub-section (2) of section 272A, sub-section

Introduction Income tax payment is a vital component of every taxpayer’s life. Whether you are a salaried employee or a business owner, you need to pay your taxes on time to avoid any penalties or legal complications. One of the most popular methods for making income tax payment is using Challan 280. Challan 280 is

Amount of investments, etc., not fully disclosed in books of account Where in any financial year the assessee has made investments or is found to be the owner of any bullion, jewellery or other valuable article, and the Assessing Officer finds that the amount expended on making such investments or in acquiring such bullion, jewellery

Unexplained money, etc Where in any financial year the assessee is found to be the owner of any money, bullion, jewellery or other valuable article and such money, bullion, jewellery or valuable article is not recorded in the books of account, if any, maintained by him for any source of income, and the assessee offers