Penalty u/s 271(1)(c) if MAT not paid

[Chandravijay Shah]

Whether penalty u/s 271(1)(c) will apply, if MAT is not paid?

[CA Rachit Agarwal]

MAT is also income tax and provisions of income tax would also apply to MAT

AI Summary

MAT non-payment may attract penalty under income tax provisions since MAT is treated as income tax liability. Non-payment of Minimum Alternate Tax (MAT) is treated as non-payment of income tax for statutory purposes, and therefore the general penalty provisions addressing concealment or inaccurate particulars, including those invoked under section 271(1)(c), apply to failure to pay MAT.