Penalty imposition authority shifted to Assessing Officer, replacing Joint Commissioner for statutory tax penalties. Clause 81 of the Finance Bill, 2025 inserts a proviso in sub-section (2) of section 271DB so that any penalty under sub-section (1) on or after 1st April, ... Summary
Penalty imposition authority shifted to Assessing Officer, replacing Joint Commissioner for statutory tax penalties.
Clause 81 of the Finance Bill, 2025 inserts a proviso in sub-section (2) of section 271DB so that any penalty under sub-section (1) on or after 1st April, 2025 shall be imposed by the Assessing Officer instead of the Joint Commissioner, subject to the proviso's reference to sub-section (2) of section 274. The amendment relates to penalties for failure to comply with the obligation under section 269SU.
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