Penalty u/s 271D in respect of section 269SS - The source of ...

Penalty Imposed u/s 271D for Non-Bank Fund Sources and Unsubstantiated Agricultural Income Claims by Creditors.

January 16, 2014

Case Laws Income Tax HC

Penalty u/s 271D in respect of section 269SS - The source of funds of the creditors was not from the Bank and introduction of black money cannot be ruled out - no proof was furnished regarding earnings of agricultural income by the creditors - HC

View Source

← Previous Next →

Penalty u/s 271D in respect of section 269SS - The source of ...

Penalty Imposed u/s 271D for Non-Bank Fund Sources and Unsubstantiated Agricultural Income Claims by Creditors.

January 16, 2014

Case Laws Income Tax HC

You may also like:

Income from undisclosed sources - addition of agricultural income - Assessment of agricultural income declared by the assessee for various assessment years was...

Penalty u/s 271D or 271E - Penalty u/s.271D or 271E of the Act is concerned, those are independent proceedings and having nothing to do with assessment proceedings or...

Levy of penalties under various sections - The Appellate Tribunal, in a consolidated order, addressed several appeals concerning penalties imposed under various sections...

Correct head of income - characterization of receipts - income derived from saplings or seedlings grown in nursery - Agricultural income or income from other sources....

Penalty for non deduction of tax at source - bona fide belief proved - penalty set aside - AT

Agricultural income or not - Since no agricultural income has been shown by assessee’s husband in this year, the entire income has been considered as ‘income from other...

The summary focuses on the interpretation and applicability of Section 271D and Section 269SS of the Income Tax Act. The key points are: Section 271D imposes a penalty...

Income Tax: Clause 15 proposes to remove references to National Housing Bank from Section 43D of the Act and its Explanation, pertaining to income of public financial...

Penalty u/s 271D - violation of provisions u/s 269SS - cash receipt claimed as advance against sales - recording of the satisfaction by the AO is sine qua non for...

The ITAT Bangalore, in a case involving unexplained money u/s. 69A, addressed deposits in a bank account during the demonetisation period. The DR argued that the...

Tax Incentives to International Financial Services Centre - (i) Time limit for exemption on Transfer of assets of the original fund, or its wholly owned SPV to a...

Recovery of deemed Cenvat Credit availed through fraudulent bills - penalty under Rule 27 imposed - liability of bank - no penalty can be imposed on the banking company - AT

Penalty u/s 271D - Default u/s 269SS - cash loan(s) availed form its Managing Director in current account - day-to-day emergency expenses - AO directed to examine that...

Penalty invoking the provisions of section 271D - Managing Director of the assessee company had extended cash to the company - loan or deposits u/s 269SS - By invoking...

The Income Tax Appellate Tribunal held that the Assessing Officer cannot arbitrarily reduce agricultural income and add it as income from other sources based on mere...

Quick Updates: