Penalty levied u/s 271(1)(c) of the Income Tax Act is deleted as ...

Income Tax Penalty Removed: Full Disclosure Made in Response to Section 153A Notice, No Concealment Found.

November 11, 2013

Case Laws Income Tax AT

Penalty levied u/s 271(1)(c) of the Income Tax Act is deleted as the entire income has been properly disclosed in the return filed by the assesse in response to notice u/s 153A - AT

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Penalty levied u/s 271(1)(c) of the Income Tax Act is deleted as ...

Income Tax Penalty Removed: Full Disclosure Made in Response to Section 153A Notice, No Concealment Found.

November 11, 2013

Case Laws Income Tax AT

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Penalty levied u/s 271(1)(c) for concealment of income was challenged. The Assessing Officer (AO) alleged that the assessee understated turnover and concealed income...

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Penalty u/s 271(1)(c) - even if it is assumed that concealment of the income was invented by the Assessing Officer from the details that are furnished by the assessee,...

Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

Penalty u/s 271(1)(c) - If the assessee has made a complete disclosure in the income tax return and offered the surrendered amount for the purposes of tax, there is no...

The ITAT Mumbai considered a case involving a penalty u/s 271(1)(c) for concealment of income or furnishing inaccurate particulars of income. The Tribunal found the...

Penalty u/s 271 (1) (c) - Income disclosed only after the search and seizure operation - The High Court emphasized that Explanation 5A of Section 271(1)(c) deems...

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) - defective notice u/s 274 - The Tribunal emphasized the necessity for such notices to clearly delineate the charge against the assessee, allowing...

The assessee challenged the penalty imposed u/s 271(1)(c) for short credit of sale consideration received from the sale of copyrights and cable rights. The issue...

Penalty proceedings u/s 270A - Applicable rate of penalty - The Appellate Tribunal noted that while the penalty notice cited under-reporting of income, the AO imposed...

Penalty order u/s 271AAB for treating an amount included in the Return of Income as 'undisclosed income' was found unjustified. The Commissioner of Income Tax (Appeals)...

Penalty u/s 271(l)(c) - it is a case where the hypothesis of there being a concealment of income and there not being concealment of income are equal - no penalty - AT

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