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, ...

Case Laws     Income Tax

June 25, 2013

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. 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...

  2. Penalty u/s. 271B - assessee had not filed audit report - Only a qualified CA is permitted to Audit books of account. In the affidavit it is claimed by the Accountant of...

  3. 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...

  4. Penalty u/s 271A and u/s 271B - not maintaining books of account and for not getting the booking of account audited as provided u/s 44AB - Penalties levied u/s 271A for...

  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. Disallowance of contingency expenses claimed by the assessee. The Assessing Officer (AO) disallowed the contingency expenses despite acknowledging that the total cost...

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

  8. 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...

  9. 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...

  10. 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...

  11. This circular from SEBI provides the periodic reporting format for Research Analysts and Proxy Advisers. Key points: - Research Analysts (RAs) are required to furnish...

  12. The ITAT considered a case involving Penalty u/s 271B for not auditing books as per section 44AB. The Assessee argued books were not updated by the due date for audit...

  13. 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...

  14. Estimation of net profit - rejection of books of accounts - Once the books of account of the assessee was produced before the lower authorities and if there is certain...

  15. Rejection of books of accounts - rejection of books of account by invoking the provisions of section 145(3) - the AO has categorically noted in the assessment order...

 

Quick Updates:Latest Updates