1. Search Case laws by Section / Act / Rule — now available beyond Income Tax. GST and Other Laws Available
2. New: “In Favour Of” filter added in Case Laws.
Try both these filters in Case Laws →
TaxTMI Login
🚀 New: Section-Wise Filter ✕
Just a moment...
1. Search Case laws by Section / Act / Rule — now available beyond Income Tax. GST and Other Laws Available
2. New: “In Favour Of” filter added in Case Laws.
Try both these filters in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Acts & Rules
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
<h1>Failure to furnish tax returns and concealment of income triggers statutory penalties tied to tax sought to be evaded.</h1> Section 271 empowers tax authorities to impose penalties where a person fails to file returns, comply with notices, conceals particulars of income or fringe benefits, or furnishes inaccurate particulars. Penalties vary by default type: separate regimes apply for non furnishing or late filing, non compliance with notices, and concealment or inaccurate disclosure; the latter are linked to the amount of tax sought to be evaded as determined by specified formulas and deeming explanations including consequences of search and tracing of prior years. Firms and partner distributions receive specific treatment.
TaxTMI 
TaxTMI 
