https://www.taxtmi.com/article/detailed?id=8798 Penal provisions are routinely invoked for disallowances relating to expenditures attributable to exempt income, generating inconsistent case law and excessive litigation. The author advocates binding guidelines to limit penalty proceedings where taxpayers take a reasonable or arguable view, consideration of multi year conduct and the number and quantum of contested issues before imposing penalties, accountability for officers who pursue unreasonable additions, and restraint in penalising recorded cash transactions without investigating counterparties. en-us Fri, 25 Oct 2019 07:53:26 +0530 Fri, 25 Oct 2019 07:53:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8798 Penal provisions are routinely invoked for disallowances relating to expenditures attributable to exempt income, generating inconsistent case law and excessive litigation. The author advocates binding guidelines to limit penalty proceedings where taxpayers take a reasonable or arguable view, consideration of multi year conduct and the number and quantum of contested issues before imposing penalties, accountability for officers who pursue unreasonable additions, and restraint in penalising recorded cash transactions without investigating counterparties. Articles Income Tax Fri, 25 Oct 2019 07:53:26 +0530 https://www.taxtmi.com/article/detailed?id=8798