| Question And Answer | |
|---|---|
| Subject: | Penalty u/s 271DA |
| Category: | Income-Tax |
| Querist: | Suresh Goyal |
| Answered by: | Reply of the Expert is awaited; |
| Tags: | penalty u/s 271D |
| Date: | July 15, 2024 |
AS per penalty order 16.02.2024, Assessee received sum of Rs. 6,00,000/- from A in December 2020. Assessee received SCN in December 2023 for levy of penalty u/s 271DA. Assessee is raising following queries:-
- No Regular Assessment has been done for A.Y 2021-22. Whether the penalty can be imposed even if no regular assessment has been done.
- No details of transaction in the SCN has been given.
- Whether the AO/ JCIT who issued the notice u/s 274 r.w.s 271DA should record satisfaction before issue of notice.
Please Clarify the above
Reply of the Expert is awaited. Please check back later
Disclaimer: This article is only for general information and is not intended to provide legal advice. Readers desiring legal advice should consult with an experienced professional to understand the current law and how it may apply to the facts of their case. Neither the author nor itatonline.org and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any inaccurate or incomplete information in this article nor for any actions taken in reliance thereon. No part of this document should be distributed or copied (except for personal, non-commercial use) without express written permission of itatonline.org