Penalty u/s 271(1)(c) - Penalty in dispute has been imposed is ...

Penalty u/s 271(1)(c) Overturned Due to Lack of Evidence; No Malicious Intent Proven by Assessing Officer.

August 17, 2013

Case Laws Income Tax AT

Penalty u/s 271(1)(c) - Penalty in dispute has been imposed is purely on estimation basis and the Assessing Officer has not brought any material on record to establish any mala fide intention of the assessee to evade tax - no penalty - AT

View Source

← Previous Next →

Penalty u/s 271(1)(c) - Penalty in dispute has been imposed is ...

Penalty u/s 271(1)(c) Overturned Due to Lack of Evidence; No Malicious Intent Proven by Assessing Officer.

August 17, 2013

Case Laws Income Tax AT

You may also like:

Penalty u/s 271(1)(c) for furnishing inaccurate particulars of income - adjustment made u/s 92CA - penalty levied u/s 271(1)(c) on the adjustment made u/s 92CA is not...

Penalty levied u/s 271(1)(b) - assessee had failed to provide full submissions - penalty levied by the Assessing Officer u/s 271(1)(b) of the IT Act deserves to be...

Penalty u/s 271(1)(c) - The Appellate Tribunal observed that the appellant, during reassessment proceedings, had filed their return of income but failed to provide...

Penalty u/s. 271(1)(c) - recording of specific finding or not? - In para 7 of the penalty order u/s. 271(1)(c), the Assessing Officer held that it is found to be a fit...

The crux pertains to levying penalty u/s 271(1)(c) for alleged furnishing of inaccurate particulars or concealment of income regarding capital gains computation on sale...

Levy of penalty u/s. 271(1)(c) - Addition of LTCG - Assessing Officer while recording satisfaction has invoked both the charges of section 271(1)(c) - ambiguity and...

Penalty u/s 271(1)(c) was levied by the Assessing Officer solely based on the order of the Income Tax Settlement Commission withdrawing immunity from penalty and...

Penalty u/s 271(1)(c) - CIT(A) has given direction to the Assessing Officer to levy penalty equivalent to 100% tax under section 271(1)(c) of the Act. Mere estimate of...

The assessee had conceded the compensation income to be included as income from other sources. However, upon judicial examination, the compensation was found to be...

HC ruled penalty proceedings under sections 271D and 271E require explicit satisfaction to be recorded by Assessing Officer during reassessment. Mere recording of...

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...

Penalty u/s 271(1)(c) - a case of furnishing of inaccurate particulars of income has not been made out against the assessee. - Though, similar disallowances were made by...

The Income Tax Appellate Tribunal (ITAT) held that no penalty u/s 271(1)(c) can be imposed for an ad-hoc disallowance of 20% of expenses made by the Assessing Officer....

Penalty u/s 271(1)(c) - when the Assessing Officer is not able to prove that the assessee was guilty of fraud or gross or willful negligence, penalty cannot be sustained - AT

Levy of Penalty u/s 271(1)(c) in case of voluntary surrender of income - disallowance of claim of loss - Assessee offered the loss voluntarily to avoid litigation and...

Quick Updates: