[D] Procedure for imposing Penalty [Section 274]


According to the provisions of section 274, if any penalty of the aforesaid nature is to be imposed, the assessee must be provided with a reasonable opportunity of being heard. If no such opportunity is provided to• the assessee, the penalty order will be invalid.

No order imposing a penalty, can be made without prior approval of Joint commissioner

(a) where penalty exceeds Rs. 10,000 levied by I.T.O.

(b) where penalty exceeds Rs. 20,000 levied by Assistant Commissioner or Deputy Commissioner. [Section 274 (2)].

An Income-tax authority on making an order imposing a penalty, unless he himself is an Assessing Officer, shall forthwith send a copy of such order to the Assessing Officer. [Section 274(3)].
More Topics ... @ Penalty

[A]    Types of Penalties imposed under Income Tax Act. 1961.

[B]     Power to Reduce or Waive Penalty, etc. in certain cases (Section 273 A)
[C]    Stay or Compounding proceedings [Section 273 A (4)]
[D]    Procedure for imposing Penalty [Section 274]
[E]     Time limits of commencement and completion of Penalty proceedings (Section 275)
[F]     Power of Commissioner to Grant Immunity from Penalty [Section 273AA]
[G]    Summary Of Provisions Relating To Penalties
[H]    Important Notes on Penalty under Income Tax Act. 1961.
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