Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 439 confirms penalties for under-reporting and misreporting income, cites section 206, keeps same penalty rates</h1> Section 439 establishes penalties for under-reporting and misreporting of income, prescribing methods to compute under-reported income (including interactions with deemed income under section 206), exceptions for bona fide disclosures and compliant transfer-pricing documentation, and penalty rates of 50% (under-reporting) and 200% (misreporting) with a bar on double penalisation and requirement of a written order. The enacted Act mainly refines drafting by expressly citing section 206(1) and (2) and clarifying punctuation/terminology; no substantive changes were made to penalty rates, misreporting categories, exceptions, or computational rules.
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