Penalty u/s 271(1)(c) - to the extent the assessee makes a ...

Taxpayers avoiding penalties u/s 271(1)(c) if they fully disclose previously undisclosed income, especially when linked to assets.

September 23, 2013

Case Laws Income Tax HC

Penalty u/s 271(1)(c) - to the extent the assessee makes a cleanbreast of his undisclosed income represented by assets found to be in the possession of the assessee he is not deemed to have concealed his income or concealed particulars thereof - HC

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Penalty u/s 271(1)(c) - to the extent the assessee makes a ...

Taxpayers avoiding penalties u/s 271(1)(c) if they fully disclose previously undisclosed income, especially when linked to assets.

September 23, 2013

Case Laws Income Tax HC

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Penalty levied u/s 271 (1) (c) - As the appellants had disclosed the income, after detection by the department and as per the terms of settlement, the assessing officer...

Penalty u/s 271 (1)(c) - When interest income itself is not disclosed, there is no question of holding that all the facts relating to the interest income and material to...

Penalty u/s 271(1)(c) - Assessee filed return of income in response to notice u/s 148 - No difference between returned income and assessed income - Assessee voluntarily...

The ITAT held that penalty u/s 271(1)(c) was not imposable on the assessee. The assessee had voluntarily paid tax on income from sale of shares three years prior to...

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...

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