Home Highlights March 2014 Year 2014 This

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1. 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...

2. The crux pertains to levying penalty u/s 271(1)(c) for alleged furnishing of inaccurate particulars or concealment of income regarding capital gains computation on sale...

3. Penalty u/s 271(1)(c) - Disallowance u/s 40(a)(ia) - AO has not applied his mind before initiating the penalty proceedings rather borrowed his satisfaction from the “tax...

4. Validity of the penalty u/s 271(1)(c) or 158BFA - AO has levied the penalty under section 271(1)(C) of the Act by observing that the assessee has concealed/furnished...

5. Penalty u/s 271(1)(c) - recording of satisfaction - penalty initiated u/s 143(3) order for concealment of particulars of income - penalty imposed for furnishing of...

6. Penalty u/s 271(1)(c) - Defective notice u/s 274 - non specification of charge - AO has miserably failed to specify in the notice issued under section 274 read with...

7. Penalty u/s 271(1)(c) - Penalty under section 271(1)(c) of the Act is leviable to be imposed only where the assessee has concealed its particulars of income or furnished...

8. Penalty u/s 271(1)(c) - the fact that assessee has furnished inaccurate particulars for the purpose of determining the tax u/s 115JB stands established - penalty confirmed - HC

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

10. Levy of penalty u/s 271(1)(c) - Once, all the documentary evidences were produced before the AO and sales are no doubted, it is doubtful, whether the purchases are bogus...

11. Penalty u/s 271(1)(c) for furnishing inaccurate particulars of income - adjustment made u/s 92CA - penalty levied u/s 271(1)(c) on the adjustment made u/s 92CA is not...

12. Penalty u/s 271(1)(c) of the Act is liable to be imposed only where the assessee has concealed its particulars of income or furnished inaccurate particulars. Action of...

13. Penalty u/s 271(1)(c) - AO has levied penalty u/s 271(1)(c) only invoking the Explanation 5A below section 271(1)(c) and not held the assessee liable for concealment of...

14. The case involved a dispute over penalty imposition u/ss 271(1)(c) versus 271(1B) for additions related to estimated income from share trading transactions. The...

15. Penalty u/s 271(1)(c) - LTCG on purchase of plot - A.O. has not clearly mentioned the limb, on the basis of which, penalty was proposed to be imposed. - concealment of...