Penalty u/s 271E - Advances repaid by assessee - Contravention ...

Case Laws Income Tax

July 19, 2013

Penalty u/s 271E - Advances repaid by assessee - Contravention of Section 269T - Whether the Appellate Tribunal has substantially erred in holding that advances against the booking of shops and offices is not deposit within the meaning of section 269SS and 269T - Held No - HC

View Source

← Previous Next →

Penalty u/s 271E - Advances repaid by assessee - Contravention ...

Case Laws Income Tax

July 19, 2013

You may also like:

The case pertains to penalty proceedings u/s 271D for violating Section 269SS and Section 271E of the Income Tax Act. The assessee received Rs. 18 lakh from a trustee...

Levy of penalties under various sections - The Appellate Tribunal, in a consolidated order, addressed several appeals concerning penalties imposed under various sections...

The case involved a challenge to penalty orders u/ss 271D and 271E before the Appellate Tribunal. The issue revolved around the reassessment proceedings being quashed,...

Penalty levied u/s 271(1)(c) - Transfer pricing adjustment - assessee advanced interest free loan to its AE - The Tribunal noted that the assessee had disclosed all...

Penalty u/s 271D & 271E - allegation of cash loan having been taken/repaid - The ITAT underscored the principle that penalties under Sections 271D and 271E for...

The Appellate Tribunal found that the penalty was initiated u/s. 271DA instead of u/s. 271D, which led to confusion and violated the assessee's right to a fair hearing....

The Appellate Tribunal considered a case involving penalty u/s 271(1)(c) for furnishing inaccurate particulars of income. The Assessee did not disclose non-eligibility...

Disallowance of interest u/s 36(1)(iii) - The AO had disallowed the interest claimed by the assessee on advances made to its Director, citing a lack of nexus between the...

Penalty u/s 271E - violation of the provision of section 269T - assessee has repaid the loans and advances received from various creditors otherwise than by crossed...

Levy of penalty u/s.271E and 271D - as per the assessee it was to reduce cash handling by the workers of transporters, cab drivers etc. However, ld. ACIT has clearly...

The Appellate Tribunal considered the levy of penalty u/s 270A. The Assessing Officer (AO) imposed the penalty u/s 270A(9)(a) for misrepresentation of facts and...

The Appellate Tribunal dismissed the appeal u/s 249(4)(b) due to non-payment of advance tax. The assessee did not respond to the notice u/s 142(1) to clarify tax payment....

Penalties levied u/ss 271D and 271E were challenged. The assessee was found to have violated Sections 269SS and 269T. However, there was no concrete finding that the...

Levy of penalty u/ss 271D and 271E was challenged - default u/ss 269SS and 269T - assessee received and repaid cash loans from directors and related concerns - assessee...

Penalty u/s 271E - assessee has repaid loan in cash during the year under consideration in violation of Section 269T - The assessee is since deceased and thus the...

Quick Updates: