Names of the assessees on whom penalties more than Rs.5000 should be published in Gazette of India and important local newspaper. - Income Tax - 224/CBDT

INSTRUCTION NO. 224/CBDT Dated: September 29, 1970 Section(s) Referred: 287 Statute: Income - Tax Act, 1961 Reference is invited to the Instructions No.29 dated 26-3-69 on the above subject; it was stated therein that the names and other particulars relating to the assessees on whom a penalty of not less than Rs.5000 was imposed during the financial year commencing from 1966-67 and onwards should be published in the Gazette of India as well as important local newspapers. The above instructions have been interpreted by some CsIT to mean that the name of a particular assessee should be published if the total amount of penalty imposed upon him/her during the financial year is Rs.5000 or more. This interpretation is not correct. Para 2 of the Instructions mentioned above, refers to a penalty of not less than 5000 imposed during the particular financial year and as such only the names of such assessees should be published upon whom a particular assessment year during the financial year for which the publication is being made. In case penalties in respect of more than one assessment year are imposed upon an assessee during a financial year, details of only such penalties need be published which individually exceed Rs.5000. The position explained above may kindly be kept in mind while publishing in future the names of the assessees on whom penalties have been imposed.