Commercial’s Offences & Prosecutions Under Income Tax Law by Ram Dutt Sharma – 3rd Edition 2022.

Commercial’s Offences & Prosecutions Under Income Tax Law by Ram Dutt Sharma – 3rd Edition 2022.

About the book

Prosecution is a potential weapon in the hands of the Income-tax department to tackle tax evasion. The Income Tax Department always insists on voluntary compliance among the taxpayers to avoid the consequences that result out of non-compliance. Penalties are incurred for the defaults committed by the taxpayers. Apart from penalties, there are offences that are prosecuted under the Income Tax Act. Besides the tax evasion, delay or failure of tax return filing many other offences are liable to prosecution that the taxpayers should be aware of, to avoid the severe outcomes.

It has became very important to be aware of the laws relating to prosecutions under direct taxes which may help to the department and to the professionals in guiding the assessees not only (a) to file an appropriate reply, (b) to make an application for waiver of penalties, (c) approach for Settlement Commission, (d) Compounding of Offences, (e) proceedings before the Magistrate Court or (f) approach the Central Government for immunity. In this book an attempt. has been made to give an overview of the provisions relating to Offences and Prosecutions under the Income-tax Act and also an attempt has been made to compile an exhaustive check-list for the department as well as professionals for filing appropriate replies in the matter.

This book aims at standardizing the procedures for processing cases for prosecution and also ensuring proper guide in the matter. Latest guidelines for compounding of offences as approved by the CBDT have been incorporated. New guidelines on procedure for identification and processing for prosecution are also incorporated.

This book has also brought into focus provisions contained in other enactments with special reference to Indian Penal Code and Criminal Procedure Code Relevant case laws and circulars/instructions of the CBDT have also been made part of this book.

I would like to place on record a special note of gratitude to Shri Ashok Kumar Manchanda, IRS, (1976-Batch) who has been the source of inspiration in my life.

I also express my thanks to Commercial Law Publishers (India) Pvt. Ltd. who reposed confidence in me and published this book. They have done a good job in making this book attractive, acceptable and useful.

An attempt has been made to bring out the proper import of the provisions dealing with prosecution and the subtleties of the procedures in relation to the offences committed In a work of this magnitude on a volatile subject there will always be scope for further improvements and embellishments. This would be possible only with the feedback from the readers. We welcome your constructive suggestions and comments for making it more useful to the different segments of the society.

It is hoped that as in the past this book will also prove to be very useful for the taxpayers and receive widespread patronage.

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