Self assessment-penalty u/s 140A. - Income Tax - 1351/CBDT

INSTRUCTION NO. 1351/CBDT Dated: September 5, 1980 Reference Boards letter No.370/58/79-IT(B), dated 7th August 1979 on the above subject. 2. In view of the recent streamlining of the summary assessment scheme, the Board have decided that from the current year onwards the returns of income in cases with returned income of Rs.5000 or more and in non-company cases only those earmarked for scrutiny assessments should be checked with a view to see if the tax due on self assessment has been paid. 3. It is requested that urgent action may please be taken in your charge to undertake the checking on the above lines so that show cause notices can be issued in time for levy of penalty, wherever called for u/s.140A(3) of the I.T. Act in cases of non-payment/under-payment of self assessment tax. 4. A certificate should be obtained from the ITO to ensure that all cases referred to in para 2 above have been scrutinised and appropriate action taken. 5. This should be treated as a standing instruction and may be followed from year to year.