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

High Court Confirms Penalty for Income Concealment u/s 271(1)(c) Due to Incorrect Claims Violating Tax Laws.

September 28, 2013

Case Laws Income Tax HC

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

View Source

← Previous Next →

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

High Court Confirms Penalty for Income Concealment u/s 271(1)(c) Due to Incorrect Claims Violating Tax Laws.

September 28, 2013

Case Laws Income Tax HC

You may also like:

Penalty u/s 271(1)(c) - Making an incorrect claim in law cannot tantamount to furnishing inaccurate particulars under Section 271(1)(c) of the Act. Mere making of a...

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

Levy of Penalty u/s. 271(1)(c) - The ITAT ruled that since there was no variation between the returned and assessed income, there was no concealment of income by the...

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

Penalty for concealment of income u/s 271(1)(c) of the Income Tax Act - Claim of capital loss as bad debt - bonafide belief - no penalty - HC

Penalty u/s 271(1)(c) - proof of contravention of provisions provided under explanation 5A to section 271(1)(c) - On reference to the provisions of explanation 5A to...

The Assessing Officer (AO) consciously deleted irrelevant portions from the show cause notice, mentioning only the charge of furnishing inaccurate particulars of income....

The assessee had not offered short-term capital gain u/s 50 on the sale of a depreciable fixed asset as income in the return or during scrutiny proceedings. The issue...

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...

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

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...

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) - 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...

Penalty u/s 271(1)(C) - Notice issued by the Assessing Officer u/s 274 r.w.s 271(1)(c) of the Act to be bad in law as it did not specify which limb of section 271(1)(c)...

Quick Updates: