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June 2009

I-T dept. flouts rules, to pay costs

By Raman Jokhakar, Tarunkumar Singhal, Chartered Accountants
Reading Time 1 mins
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  1. I-T dept. flouts rules, to pay costs

The Income-tax Department routinely imposes cost on
assesses for late filing of returns or delayed tax payment. For a change, it
was at the receiving end when the High Court imposed a cost of Rs.25,000 for
retaining books of accounts impounded from a city builder for almost five
years.

Justice D. V. Shylendra Kumar, while disposing of the
petition filed by Shubha & Prabha Builders Private Ltd., observed that the I-T
Department couldn’t flout its own rules and regulations.

(Source : Media Reports & Internet, dated 27.04.2009)

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