Question ID :
39232
Penalty notice u/s 274 r.w.s. 271 (1) (c)
Whenever ITO want to initiate penalty proceedings u/s 271 (1 ) (c) he first mention this fact in assessment order that penalty proceedings are intiated separately and after then only he issues a separate notice under section 274 r.w.s. 271 (1) (c) . But in my case ITO issued notice u/s 271 (1) (c) without mentioning this fact in assessment order that he is going to do so. Whether this act of ITO is legal ?
Posted by
CA. Jimmy Modi
on
Jun 22, 2019
Filed Under
DIRECT TAXES
The assessing authority has to form his own opinion and record his satisfaction before initiating the penalty proceedings under section 271(1)(c) of the Act.
Posted by
CA PRADEEP C B on
Jun 22, 2019
Answer ID :
79013
satisfaction of the AO to be recorded in the order sheet before issue of notice.
Posted by
CA. VENKITARAMAN K V on
Jul 10, 2019