Re: Case Law for Penalty u/s 271F of the I T Act.

[ANJINI AGRAWAL]

Dear Freinds,

 

Are there any case laws which say that no penalty u/s 271F is leviable on non taxable income.

 

Please inform.

 

Anjini Kr Agrawal

 

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[Santosh Dhoot]

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[Visvanathan Sivaraman]

Dear Friends

Penalty can be levied only on the tax liability.

When the tax liability is NIL as the income is not taxable then on which amount penatly can be levied? PLEASE THINK.

I am sure that so called learned CA professionals will apply their mind before shooting out such quiries.

sivaraman v

On 2/9/07, ANJINI AGRAWAL <anjini...@yahoo.co.in> wrote:

[Karnav Dave]

Some section specifically restrict the ampount of penalty to the extent of tax payable. Not each and every.

 

As far as the section 271F is concerned.

 

Please refer section 139, under which one is liable for the filing of the return of income. If one is not lible for filing of the return of income (non-taxable income presumed that the assessee have gross income below 1,00,000/-).

 

If assessee is not suppose to file a return of income no penalty for non-filing of return of income can be levied.

 

Visa versa, even if the income is non-taxable (say trust's, etc) , and assessee is required to file a return of income u/s 139, the penalty u/s 217 F is leviable.

 

The income tax Act is clear

 

Karnav Dave

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