Penalty u/s 271AAA of the Act – Penalty proceedings and quantum ...

Section 271AAA: Penalty Proceedings Differ from Quantum Proceedings in Income Tax Act; Different Criteria May Apply.

March 18, 2014

Case Laws Income Tax AT

Penalty u/s 271AAA of the Act – Penalty proceedings and quantum proceedings are separate and distinct and the parameters which are applicable to the assessment proceedings may not apply to penalty proceedings - AT

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Penalty u/s 271AAA of the Act – Penalty proceedings and quantum ...

Section 271AAA: Penalty Proceedings Differ from Quantum Proceedings in Income Tax Act; Different Criteria May Apply.

March 18, 2014

Case Laws Income Tax AT

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Penalty u/s 271AAA - undisclosed income - During the assessment proceedings, the assessee substantiated the manner in which the said income was derived through...

Penalty 271AAA(2) - disclosure of undisclosed income - money found during search u/s 132 - assessee has fulfilled the requirement of sub-section (2) of section 271AAA -...

Penalty order u/s 271AAA - disclosure of additions income pursuant to search u/s 132 - In the present case the assessee has disclosed the entire source of income and...

Penalty u/s 271AAA - Assessment u/s 153C - search and seizure proceedings u/s 132(1) not carried out against the assessee - the primary condition of section 271AAA...

Penalty u/s 271AAB or 271AAA - non issue of notice u/s 274 read with Section 271AAB - corrigendum issued stating that Section 271AAA should be read as Section 271AAB -...

Penalty u/s 271AAA - sufficient compliance - the language employed in the second exception under Explanation 5 to section 271(1) is, “pays the tax together with...

Penalty u/s 271(1)(c) OR 271AAA - Addition of undisclosed income found during search proceedings - No infirmity in the order of the ld.CIT(A) holding that the correct...

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