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CMA Final · Direct Tax Laws and International Taxation · Penalties and Prosecutions

Under section 512 of the Income-tax Act, 2025, which statement about publication of information about assessees is correct?

Publication regarding a penalty must wait until the appeal time under section 356 or 357 has expired with no appeal filed, or until a filed appeal is disposed of, as section 512(2) provides.

  1. ANames of partners or directors can never be published along with the firm or company
  2. BPublication for a penalty may be made immediately once the penalty is imposed
  3. CPublication of a penalty is allowed only after the time for appeal under section 356 or 357 has expired with no appeal filed, or any appeal filed has been disposed ofCorrect
  4. DPublication is permitted only for prosecutions and never for penalties

Explanation

Section 512(2) bars publication for a penalty until the appeal period under section 356 or 357 has lapsed without appeal, or the appeal is disposed of. Section 512(3) allows partners', directors' names to be published if circumstances justify, and section 512(1) covers proceedings or prosecutions in public interest.

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