Filing of income tax returns is mandatory for an assessee, and failure
to do so will constitute an offence under Section 276 of the Income Tax
Act, the Supreme Court held on Thursday.
A Bench gave the ruling, ordering prosecution of Tamil Nadu Chief
Minister Jayalalithaa and her close aide N. Sasikalaa for not filing
returns. The consequence of non-filing of returns on time has also been
stipulated in the IT Act. “The offence under Section 276CC will be
attracted on failure to comply with Section 139(1) or to respond to the
notice issued under Section 142 or Section 148 within the time limit
specified therein,” it said.
For More details :http://www.thehindu.com/news/national/pending-proceedings-wont-halt-prosecution-sc-tells-jayalalithaa/article5635791.ece
No comments:
Post a Comment