Question

Bring out the penalties levied under the law​

Answer 1

Answer:

No penalty under the Income-tax Act is imposed unless the person concerned has been given reasonable opportunity of being heard.

Answer 2

information about the punishable offences, executions and the number of penalties that can be assessed under the law.

• There are three modes erected in the financial legislation for encouraging duty compliance

1. Charge of Interest
2. duty of penalty
3. launching of execution against duty delinquents.

• While charging of interest is compensatory on character, the duty of penalty and institution of execution proceedings act as strong deterrents against implicit duty delinquents
• Section 271DA provides for tax of penalty on a person who receives a sum in violation of the vittles of section 269ST.
• The penalty shall be equal to the quantum of similar damage. still, the penalty shall not be levied if the person proves that there were good and sufficient reasons for a similar violation.
• Section 271AAC of the Income- duty Act empowers AO or Commissioner( Appeals) to tax penalty at the rate of 10 of the duty outstanding under section 115BBE
• if any addition is made under section 68, section 69, section 69A, section 69B, section 69C, section 69D
• According to utilitarian propositions, discipline is justified by its deterrence of felonious geste and by its other salutary consequences for individualities as well as for society.
• Among several utilitarian propositions honoured by criminologists, some stress general deterrence and some individual deterrence

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