Since the admitted tax liability has been paid at the time of ...

Tax Liability Settled with Return Filing u/s 139(5); No Penalty Imposed u/s 140A(3.

August 18, 2014

Case Laws Income Tax AT

Since the admitted tax liability has been paid at the time of filing the return u/s 139(5) of the Act, the provisions of sub-section (3) of section 140A of the Act cannot be invoked for imposing penalty u/s 140A - AT

View Source

← Previous Next →

Since the admitted tax liability has been paid at the time of ...

Tax Liability Settled with Return Filing u/s 139(5); No Penalty Imposed u/s 140A(3.

August 18, 2014

Case Laws Income Tax AT

You may also like:

Penalty u/s 221 r.w.s. 140A - default of non-payment of taxes on due date - Provisions of Section 140A (3) can apply only when there is a self-assessment tax payable...

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...

Section 80P deduction claim filed in a return submitted in response to notice u/s 142(1) is valid. The Income Tax Act does not mandate that the return must be filed u/ss...

Revised return - original return of income was filed within time - Revised return is a loss return which should have been filed within the time specified u/s 139(3) of...

Penalty u/s.271AAB - Belated filing of regular return after search - Penalty cannot be levied u/s.271AAB of the Act, in respect of income disclosed in regular return of...

Proceeding of Criminal Case u/s 276CC of the Income Tax Act - Proof of willful default in filing the return - As the applicant has filed the income tax return in time as...

Penalty u/s 271(1)(c) - revised returns were not valid returns u/s 139(5) and that, such returns were not voluntarily filed rather the same were filed only after...

Penalty levied u/s. 272A(2)(e) - trust - failure to furnish return of income which it was obligated to file u/s 139(4A) - ITR could have been filed by the assessee trust...

Not accepting the revised return of income and disallowing the claim of loss - Submission of return for losses - there is no specific denial u/s 80 that the return filed...

Validity of revised return filed vis-a-vis claims made thereunder - revised return treated as non-est - the appellant filed his original return otherwise than u/s 139(1)...

The assessee was entitled to set off brought forward losses from assessment years 2021-22 and 2022-23 against income in assessment year 2023-24, even if the return for...

Penalty u/s 271(1)(c) - income voluntarily offered before commencement of assessment proceedings - the time limit for furnishing the revised return of income u/s 139(5)...

Carry forward of business loss - original return was filed u/s 139(1) within time declaring positive income - later revised return u/s 139(5) filing declaring loss - On...

No penalty can be charged for non-filing / delayed filing of ST-3 return in case there is no service tax liability for Such period - But, levy of penalty confirmed for...

Penalty u/s 271B - assessee had failed to get his account audited u/s 44AB - The assessee explained that the delay in furnishing the Audit Report was due to the death of...

Quick Updates: