Penalty increase for specified tax default raises the fixed monetary sanction for non-compliance under the income-tax penalty provision. The statutory amendment increases the fixed monetary penalty for a specified default by substituting the prior lower sum with a higher fixed rupee amount in the provision that prescribes penalties for certain defaults under the Income-tax regime; the change modifies only the quantum of the prescribed sanction without changing the description of defaults or procedural provisions for assessment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty increase for specified tax default raises the fixed monetary sanction for non-compliance under the income-tax penalty provision.
The statutory amendment increases the fixed monetary penalty for a specified default by substituting the prior lower sum with a higher fixed rupee amount in the provision that prescribes penalties for certain defaults under the Income-tax regime; the change modifies only the quantum of the prescribed sanction without changing the description of defaults or procedural provisions for assessment.
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