Penalty u/s 271DA, failure to comply with provisions of section 269ST(Mode of undertaking transactions )

Penalty u/s 271DA was imposed against the assessee but details of the transaction have not been given in the SCN issued before imposing penalty. Even the amount of penalty to be imposed not mentioned in the SCN. Is the penalty is valid.

► Read Answer

  Time limit for initiating and levy of Penalty proceedings u/Sec. 271DA of the Act

1.What is time limit for initiating and levy of Penalty U/Sec 271DA of the Income Tax Act.1961. 2. Whether it is to be initiated in the assessment proceedings.

► Read Answer