Penalty for concealment of Income u/s 271(1)(c) - claims were ex ...

Case Laws Income Tax

September 28, 2013

Penalty for concealment of Income u/s 271(1)(c) - claims were ex facie wrong being contrary to fundamental/basic principles of accounts and Act, would not have escaped notice or missed - penalty confirmed - HC

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Penalty for concealment of Income u/s 271(1)(c) - claims were ex ...

Case Laws Income Tax

September 28, 2013

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Penalty for concealment of income Under Section 271(1) (c) - Article

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Penalty u/s 271(1)(c) - wrong claim of set off loss - explanation was not found false - no iota of evidence of concealment of any fact relating to particulars of income...

Levying the penalty u/s.271(1)(c) - Just for making wrong claims made advertently or inadvertently, therefore, penalty cannot be levied u/s.271(1)(c) of the Act and...

Voluntary surrender of income by assessee cannot be considered concealment. AO failed to prove concealment, merely concluded voluntary surrender as concealment....

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

Penalty u/s 271(1)(c) was imposed despite the assessee withdrawing the exemption claim u/s 10(38) for Long Term Capital Gain (LTCG) on sale of penny stocks and offering...

Penalty u/s 271(1)(c) - additional income was declared in survey u/s 133A - date of filing of return u/s 139(1) had not expired - The fact of “concealment of income” and...

Penalty u/s 271(1)(c) - Penalty order did not specify the particular limb under which penalty u/s 271(1)(c) is levied. AO has not specified that penalty is either levied...

To impose penalty u/s 271(1)(c), willful concealment is not an essential ingredient - HC

Penalty u/s 271(1)(c) - not entitled for the deduction U/s 54 - claim deduction allowed U/s 54F - once, the assessee has explained the reasons for making a wrong claim...

Penalty u/s 271(1)(c) - wrong claim of TDS which not belong to the assessee but appeared in the form No.26AS - there was no addition made to the income of the assessee...

Penalty u/s 271(1)(c) – merely making a wrong claim in the return of income cannot a ground for imposing penalty u/s 271(1)(c) of the Act as it neither amounts to...

The Appellate Tribunal addressed the issue of penalty u/s 271(1)(c) concerning the correct classification of income. The Assessing Officer treated the income as 'income...

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...

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