Sampath Iyengar’s Law of INCOME TAX (Vol. 10 released)

Edition: 12th edn., 2018

ISBN: 978-93-5139-555-3

Pages: 1956

Author: Revised by S. RAJARATNAM, Member (Retd.), ITAT, Advocate & Tax Management Consultant Foreword by Justice M.B. SHAH, Chairman, SIT on Black Money, Former Judge, Supreme Court of India

CHAPTER XXAAcquisition of Immovable Properties in Certain Cases of Transfer to Counteract Evasion of TaxSection269A Definitions269AB Registration of certain transactions269B Competent authority269C Immovable property in respect of which proceedings for acquisition may be taken269D Preliminary notice269E Objections269F Hearing of objections269G Appeal against order for acquisition269H Appeal to High Court269-I Vesting of property in Central Government269J Compensation269K Payment or deposit of compensation269L Assistance by Valuation Officers269M Powers of competent authority269N Rectification of mistakes269-O Appearance by authorised representative or registered valuer269P Statement to be furnished in respect of transfers of immovable property269Q Chapter not to apply to transfers to relatives269R Properties liable for acquisition under this Chapter not to be acquired under other laws269RR Chapter not to apply where transfer of immovable property made after a certain date269S Chapter not to extend to State of Jammu and KashmirCHAPTER XXBRequirement as to mode of Acceptance, Payment or Repayment in Certain cases to Counteract Evasion of TaxSection269SS Mode of taking or accepting certain loans, deposits and specified sum269ST Mode of undertaking transactions269T Mode of repayment of certain loans or deposits269TT Mode of repayment of Special Bearer Bonds, 1991CHAPTER XXCPurchase by Central Government of Immovable Properties in Certain Cases of Transfer269U Commencement of Chapter269UA Definitions269UB Appropriate authority269UC Restrictions on transfer of immovable property269UD Order by appropriate authority for purchase by Central Government of immovable property269UE Vesting of property in Central Government269UF Consideration for purchase of immovable property by Central Government269UG Payment or deposit of consideration269UH Re-vesting of property in the transferor on failure of payment or deposit of consideration269UI Powers of the appropriate authority269UJ Rectification of mistakes269UK Restrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property269UL Restrictions on registration, etc., of documents in respect of transfer of immovable property269UM Immunity to transferor against claims of transferee for transfer269UN Order of appropriate authority to be final and conclusive269UO Chapter not to apply to certain transfers269UP Chapter not to apply where transfer of immovable property effected after certain dateCHAPTER XXIPenalties Imposable[270 Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989] 270A Penalty for under-reporting and misreporting of income270AA Immunity from imposition of penalty, etc271 Failure to furnish returns, comply with notices, concealment of income, etc.271A Failure to keep, maintain or retain books of account, documents, etc.271AA Penalty for failure to keep and maintain information and document, etc. in respect of certain transactions271AAA Penalty where search has been initiated271AAB Penalty where search has been initiated271AAC Penalty in respect of certain income271B Failure to get accounts audited271BA Penalty for failure to furnish report under section 92E271BB Failure to subscribe to the eligible issue of capital271C Penalty for failure to deduct tax at source271CA Penalty for failure to collect tax at source271D Penalty for failure to comply with the provisions of section 269SS271DA Penalty for failure to comply with provisions of section 269ST271E Penalty for failure to comply with the provisions of section 269T271F Penalty for failure to furnish return of income271FA Penalty for failure to furnish statement of financial transaction orreportable account271FAA Penalty for furnishing inaccurate statement of financial transaction orreportable account271FAB Penalty for failure to furnish statement or information or documentby an eligible investment fund 271FB Penalty for failure to furnish return of fringe benefits271G Penalty for failure to furnish information or document under section 92D271GA Penalty for failure to furnish information or document under section 285A271GB Penalty for failure to furnish report or for furnishing inaccurate report under section 286  271H Penalty for failure to furnish statements, etc.271-I Penalty for failure to furnish information or furnishing inaccurate information under section 195271J Penalty for furnishing incorrect information in reports or certificates[272 Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989]272A Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc.272AA Penalty for failure to comply with the provisions of section 133B272B Penalty for failure to comply with the provisions of section 139A272BB Penalty for failure to comply with the provisions of section 203A272BBB Penalty for failure to comply with the provisions of section 206CA273 False estimate of, or failure to pay advance tax273A Power to reduce or waive penalty, etc., in certain cases273AA Power of Principal Commissioner or Commissioner to grant immunity from penalty273B Penalty not to be imposed in certain cases274 Procedure275 Bar of limitation for imposing penaltiesCHAPTER XXIIOffences and Prosecutions275A Contravention of order made under sub-section (3) of section 132275B Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132276 Removal, concealment, transfer or delivery of property to thwart tax recovery276A Failure to comply with the provisions of sub-sections (1) and (3) of section 178[276AA Omitted by the Finance Act, 1986, w.e.f. 1-10-1986]276AB Failure to comply with the provisions of sections 269UC, 269UE and 269UL276B Failure to pay tax to the Credit of Central Government under Chapter XIID or XVIIB276BB Failure to pay the tax collected at source276C Wilful attempt to evade t