https://www.taxtmi.com/article/detailed?id=9115 Section 271AAD authorises a penalty equal to the aggregate amount of any false or omitted entry in books of account found during proceedings under the Act, and allows the same penalty against persons who cause such entries. The Explanation treats forged or falsified documents, invoices without actual supply or receipt, and invoices involving non existent persons as false entry. Penalty is available only in the course of assessment proceedings, requires existence of books of account, and places onus on the Assessing Officer to establish falsity or omission; the provision is directed principally at schemes using fake GST invoices to claim input tax credit. en-us Fri, 24 Apr 2020 10:24:42 +0530 Fri, 24 Apr 2020 10:24:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9115 Section 271AAD authorises a penalty equal to the aggregate amount of any false or omitted entry in books of account found during proceedings under the Act, and allows the same penalty against persons who cause such entries. The Explanation treats forged or falsified documents, invoices without actual supply or receipt, and invoices involving non existent persons as false entry. Penalty is available only in the course of assessment proceedings, requires existence of books of account, and places onus on the Assessing Officer to establish falsity or omission; the provision is directed principally at schemes using fake GST invoices to claim input tax credit. Articles Income Tax Fri, 24 Apr 2020 10:24:42 +0530 https://www.taxtmi.com/article/detailed?id=9115