Penalty u/s 221(1) – Return filed without paying the tax ...

Section 221(1) Penalty Waived: Taxpayer Proves Good Cause for Non-Payment with Satisfactory Evidence to Assessing Officer.

April 11, 2014

Case Laws Income Tax AT

Penalty u/s 221(1) – Return filed without paying the tax liability - AO has power to not impose penalty if assessee proves to the satisfaction of the AO that the default was for good and sufficient cause - penalty waived - AT

View Source

← Previous Next →

Penalty u/s 221(1) – Return filed without paying the tax ...

Section 221(1) Penalty Waived: Taxpayer Proves Good Cause for Non-Payment with Satisfactory Evidence to Assessing Officer.

April 11, 2014

Case Laws Income Tax AT

You may also like:

Levy of penalty u/s 221(1) - Assessee did not pay self-assessment tax but filed return of income on due date - Penalty under section 221(1) is not automatic and...

Levy of penalty u/s 272A(1)(d) - The bonafide or other wise malafide of non compliance is also required to be kept in mind. The tax and interest are statutory levies,...

Penalty u/s 221 - non payment of admitted tax - financial stringency is considered to be good and sufficient cause for sufficiency of reason for not levying penalty u/s...

Non-filer assessee had taxable income but failed to file return u/s 139(1), later filed return in response to notice u/s 148 without considering section 50C provisions,...

Penalty imposed u/s. 221 r.w.s. 140A(3) - no self assessment tax was paid - the assessee shall not cease to be liable to any penalty under sub-section (1) of section 221...

The Income Tax Appellate Tribunal (ITAT) held that every non-compliance with a notice u/s 142(1) gives a separate cause of action for levying penalty u/s 271(1)(b)....

Penalty imposed u/s 221(1) r.w.s. 140A(3) - non-payment of self-assessment tax - Return of Income as filed u/s 139(1) itself was declared an invalid Return - scope of...

Penalty u/s 271 AAB or u/s 271 (1)(c) - concealment on income - as per clause (2) of section 271AAB, no penalty under the provisions of clause (c) of sub-section (1) of...

Contravention of Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973 - receiving foreign exchange payments in 1996-97 through fake export documents...

The Income Tax Appellate Tribunal deleted the penalty levied u/s 271(1)(b) for non-compliance with a notice issued u/s 142(1) during reassessment proceedings....

Penalty u/s. 272A(1)(d) - non compliance to notice u/s. 142(1) due to covid pandemic - addition u/s. 68 - As it is observed that when there is a reasonable cause for the...

Non-issuance of a proper Show Cause Notice u/s 73(1) of the State Goods and Services Tax Act, 2017 (AGST Act) prior to passing the impugned order u/s 73(9) violates...

Penalty u/s 221(1) - outstanding demand on account of self assessment tax -the penalty imposed at 10% of the outstanding demand for both the assessment years u/s 221(1)...

Validity of Service of notice u/s 74(5) instead of u/s 74(1) of CGST / UPGST Act, 2017 - Non-payment of Tax / GST - The High Court observed that while a notice was...

Penalty levied u/s 221(1) - non-payment of tax - In the instant cases, as on today, the assessment orders have been quashed by the Tribunal, vide its order dated...

Quick Updates: