26 March 2009
276C(1) is attracted when assessee conceal income to evade tax whereas 276C(2) is attracted when assessee wilfully evade the payment or show false payment though he has disclose the income correctly.
28 March 2009
in continuation of my query on difference btw 276C(1) and (2) ..
the explanation which explains what "wilful attempt" is same for both the sections then how can one be interpreted as to falsifying books and the other to evade tax..
28 March 2009
Sub section (1) relates to "evasion of tax", (2) relates to "evasion of payment of tax". In first case income is concealed to evade tax. In the second case, income has not been concealed, it has been assesed- however the person liable to pay tax is evading payment of tax.
28 March 2009
Thank you. So can it be implied that whenever penalty u/s 271(1)(c) is attracted it's a case for prosecution though not automatic under 276C(1)?
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