Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2014 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (1) TMI 810 - HC - Income TaxPenalty u/s 158BFA - Held that:- Held that:- Following Commissioner of Income Tax v. Becharbhai P. Parmar [2012 (4) TMI 418 - GUJARAT HIGH COURT] - It is true that Section 273B of the Act which provides that penalty shall not be imposed in certain cases on the assessee proving that there was reasonable cause for failure to pay tax refers to several provisions such as Section 271, 271A, etc., makes no mention of Section 158BFA(2) - This still does not mean that penalty under Section 158BFA(2) is mandatory - Penalty under Section 158BFA (2) is not mandatory. The Tribunal has not looked into the aspect of quantum of penalty - The issue has been restored for fresh adjudication.
|