Re: Imposition of non-quantum based penalty

An addition u/s.69 has been made in respect of an assessee and assessee opted for vsv scheme. Whether any non quantum bases penalty will be attracted or not in case of assessee. Kindly guide

As per FAQ No. 80 of CBDT Circular No. 21 of 2020 dated December 4, 2020. The assesssee is not eligible for waiver of penalty under section 271B, 271BA, 271DA etc. They have to be settled separately. It can be understood that penalty imposed on account of non-compliance are not waived along with quantum appeal and have to be settled separately.

 

 

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