TMI BlogGeneral discipline relating to penalty Section 126X X X X Extracts X X X X X X X X Extracts X X X X ..... n which is easily rectifiable and made without fraudulent intent or gross negligence. For the purpose of this sub-section, a breach shall be considered a minor breach , if the amount of tax involved is less than five thousand rupees; an omission or mistake in documentation shall be considered to be easily rectifiable, if the same is an error apparent on the face of record ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctor for the purpose of imposing penalty 4. When a person voluntarily discloses to an officer under this Act the circumstances of a breach of the tax law, regulation or procedural requirement prior to the discovery of the breach by the officer under this Act, the proper officer may consider this fact as a mitigating factor when quantifying a penalty for that person. As per section 12 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|