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Query asked by Hinal Shah on February 28, 2022

Re: Penalty u/s 271F initiated


We had filed appeal for which we opted for VSVS Scheme, Form 5 has been received and the Payments have been made in full. Appeal withdrawal has also been received. In the Order Penalty u/s 271 F was initiated for not filing the income. The same still remains valid or Section 6 r.w.r Section 5 of VSVS Rules/Act will be applicable? In the scheme no penalty if scheme is availed. Please clarify whether penalty is leviable.

The  assessee has to furnish reply on merit ,  what was the  reasonable cause for not filing of the return as per section 139 (1) of the Act . As per section 273B  penalty is not leviable  if the assessee proves that there was reasonable cause . Please refer Circular No . 21/2020 dt .4th  December , 2020. ( 2020) 421 ITR 1 ( St)  Q.No . 80  . Whether appeal against penalties that are not related to quantum assessment like penalty u/s 271B  271BA , 271DA of the  Act etc. are also waived upon settlement of appeal relating to ‘ disputed tax ‘ ?

Ans : No , appeal against such  penalty order is required to be settled separately





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