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2016 (8) TMI 279 - HC - Income TaxPenalty proceedings u/s 271F and prosecution u/s 276CC - Non-filing of return by the co-operative society - Notice calling upon the petitioner-Society to furnish their return of income immediately and produce the copy of the acknowledgement by 13.04.2016 - Held that:- It cannot be disputed that every person who is receiving income, within the taxable limit or otherwise, is statutorily bound to file their returns. Therefore, the petitioner-Society will not be fully justified in taking a stand that they will not file their return of Income. However, this should not automatically lead to a threat being meted out to the Society, at the instance of the respondent by initiating prosecution proceedings and penalty proceedings. In the light of the recent statement made by the Hon'ble Union Finance Minister, that the attitude of the Assessing Officer towards the assessee should have a change, more particularly in the instance case, since the petitioner is a Co-operative Society and it is being controlled by the Managing Director, which is a Government Official in the cadre of Joint Registrar of Co-operative Societies. However, for that reason, the petitioner cannot be permitted to keep quiet in the matter and not subject themselves to the proceedings under the Income Tax Act. Thus the petitioner is directed to appear before the respondent, within a period of four weeks from the date of receipt of a copy of this order and file a detailed representation along with their return of income and on receipt of the representation and the return of income, the respondent is directed to proceed further in accordance with law, after affording an effective opportunity to the petitioner. However, the prosecution which is threatened to be launched in the impugned notice shall remain stayed.
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