Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2013 Year 2013 This

Penalty u/s 272(1)(c) - discrepancies in the books of account, ...


Penalty Confirmed u/s 272(1)(c) for Accounting Discrepancies, Missing Reports, and Issuance of Accommodation Bills.

June 25, 2013

Case Laws     Income Tax     AT

Penalty u/s 272(1)(c) - discrepancies in the books of account, absence of reliable research reports, lack of original bills, it is a case of issue of accommodation bills etc, penalty confirmed - AT

View Source

 


 

You may also like:

  1. Penalty u/s 271 (1) (c) - under reporting of student fee - In the case in hand the assessee, though explained the reasons for discrepancy in the fee recorded in the...

  2. Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

  3. Penalty U/s 271B - Failure to get accounts audited - Penalty confirmed - AT

  4. Section 271(1)(c) penalty was held invalid due to improper issuance of notice, as no proceedings were pending when the notice was issued on 19.12.2019. Section 271A...

  5. Imposition of penalty u/s 271(1)(b) - non-compliance of the notice issued under Section 142(1) - if the assessee really had no connection with the Swiss Bank accounts,...

  6. Levy of penalties u/ss 122 and 129 of CGST/SGST Acts - expiry of e-way bill - mens rea in penalty imposition. Technically, violation of law by petitioner in transporting...

  7. This case deals with the levy of penalties u/ss 271AAA and 271(1)(c) of the Income Tax Act in relation to various additions made to the assessee's income based on seized...

  8. Section 12(1)(b) of the Prevention of Money Laundering Act, 2002 requires reporting entities to furnish information about transactions referred to in Section 12(1)(a) to...

  9. Penalty levied u/s 272(1)(d) - non-compliance of notice issued u/s 142(1) - internal problems in the organization - Tribunal found the appellant's explanation acceptable...

  10. Validity of assessment order - Discrepancy Nos. 1, 2, 10, and 11: The discrepancies include issues such as non-GST supplies, alleged mismatch between GSTR-3B and GSTR-1...

  11. Penalty levied u/ss 271(1)(c) and 271AAA for unexplained investment and addition made by adopting net profit as per the books of accounts at 12.85% on the suppressed...

  12. Penalty proceedings u/s 271(1)(c) - Assessee company failed to provide bonafide explanation for inflated expenses claimed in revised return, contrary to audited...

  13. Levy of penalty u/s 271(1)(c) - The Tribunal found no justification for imposing a penalty as the assessee had sufficient cash balances and transparently recorded the...

  14. The Income Tax Appellate Tribunal (ITAT) held that every non-compliance with a notice u/s 142(1) gives a separate cause of action for levying penalty u/s 271(1)(b)....

  15. Levy of Penalty u/s. 271(1)(c) - The ITAT ruled that since there was no variation between the returned and assessed income, there was no concealment of income by the...

 

Quick Updates:Latest Updates