https://www.taxtmi.com/acts?id=52025 Wilful failure to furnish a return of income within the prescribed time under the filing provisions or by notice attracts graduated punishment under Section 479, with the sanction varying according to the amount of tax that would have been evaded if the default had not been detected. Prosecution is not to be initiated where a belated return is furnished under the specified provisions, or where a non-company taxpayer's assessed tax liability, after allowable reductions, does not exceed the prescribed threshold. en-us Thu, 14 Aug 2025 18:42:53 +0530 Mon, 06 Apr 2026 15:00:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=52025 Wilful failure to furnish a return of income within the prescribed time under the filing provisions or by notice attracts graduated punishment under Section 479, with the sanction varying according to the amount of tax that would have been evaded if the default had not been detected. Prosecution is not to be initiated where a belated return is furnished under the specified provisions, or where a non-company taxpayer's assessed tax liability, after allowable reductions, does not exceed the prescribed threshold. Act-Rules Income Tax Thu, 14 Aug 2025 18:42:53 +0530 https://www.taxtmi.com/acts?id=52025