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of <h1>Penalty equal to false entry amounts imposed under Income-tax Act for tax evasion via false accounts or documents</h1> If during any proceeding under the Income-tax Act it is found that a person's books of account contain false entries or omissions relevant to income computation to evade tax, the Assessing Officer or designated appellate authorities may impose a penalty equal to the aggregate amount of such entries. Additionally, any other person who causes the false entry or omission may also be penalized similarly. False entries include the use of forged or falsified documents, invoices for non-existent supply or receipt of goods or services, or transactions involving non-existent persons. This provision operates without prejudice to other penalties under the Act.
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