Penalty procedure: show cause notice and hearing required before levy, with supervisory approval and demand notice follow up. Penalty imposition requires issuance of a show cause notice by the competent income tax authority, adherence to prescribed time limits tied to pending ... Summary
Penalty procedure: show cause notice and hearing required before levy, with supervisory approval and demand notice follow up.
Penalty imposition requires issuance of a show cause notice by the competent income tax authority, adherence to prescribed time limits tied to pending proceedings or a three year limitation from the financial year of default, and an afforded opportunity of being heard; senior official approval is mandated for penalties above specified thresholds for certain officer ranks, and every penalty order must be accompanied by a notice of demand deemed a notice under the code.
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