Accountant report compliance penalty provision later omitted under the Income-tax Act framework. Penalty provision for failure to furnish a report from an accountant required under section 172 was originally placed in section 447 of the Income-tax Act, 2025. The provision authorised the Assessing Officer to impose a penalty on a person who failed to furnish the prescribed accountant's report. The section was later omitted by the Finance Act, 2026, with effect from 01-04-2026, and the note records that it stood deleted before it was read in its earlier form.
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.
Accountant report compliance penalty provision later omitted under the Income-tax Act framework.
Penalty provision for failure to furnish a report from an accountant required under section 172 was originally placed in section 447 of the Income-tax Act, 2025. The provision authorised the Assessing Officer to impose a penalty on a person who failed to furnish the prescribed accountant's report. The section was later omitted by the Finance Act, 2026, with effect from 01-04-2026, and the note records that it stood deleted before it was read in its earlier form.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
