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Income tax

naina singh (student) (111 Points)

06 May 2008

Greeting Members

Can any body tell about the sections of 274, 271(1), and 156.

It is very urgent please help me.

Thanks

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S.Srinivasaraghavan (Chief Financial Officer and Co) (11318 Points)
Replied 25 May 2008

Notice of demand.

156. When any tax, interest, penalty, fine or any other sum is payable in consequence of any order passed under this Act, the [Assessing] Officer shall serve upon the assessee a notice of demand in the prescribed form specifying the sum so payable:

Provided that where any sum is determined to be payable by the assessee under sub-section (1) of section 143, the intimation under that sub-section shall be deemed to be a notice of demand for the purposes of this section.]

Procedure.

274. (1) No order imposing a penalty under this Chapter shall be made unless the assessee has been heard, or has been given a reasonable opportunity of being heard.

[(2) No order imposing a penalty under this Chapter shall be made

(a) by the Income-tax Officer, where the penalty exceeds ten thousand rupees;

(b) by the Assistant Commissioner [or Deputy Commissioner], where the penalty exceeds twenty thousand rupees,

except with the prior approval of the [Joint] Commissioner.]

[(3) An income-tax authority on making an order under this Chapter imposing a penalty, unless he is himself the Assessing Officer, shall forthwith send a copy of such order to the Assessing Officer.]