Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights December 2014 Year 2014 This

Deletion of penalty u/s 271D – Violation of provisions of ...

Case Laws     Income Tax

December 11, 2014

Deletion of penalty u/s 271D – Violation of provisions of Section 269SS or not –assessee was under the bona fide impression that the money received was only towards allotment of shares and it is not a loan or deposit - no penalty - HC

View Source

 


 

You may also like:

  1. The assessee failed to file the original return of income, and the Assessing Officer initiated penalty proceedings for underreporting income. The assessee's authorized...

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

  3. Penalty u/s 271B was levied on the assessee for failure to get accounts audited despite turnover exceeding prescribed limit u/s 44AB. The Assessing Officer relied solely...

  4. 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...

  5. Penalty u/s 271(1)(c) - The Revenue may or may not agree with this understanding of law of the assessee but the fact that there can be a bona fide view to that effect...

  6. Penalty u/s 271D for violating provision of section 269SS - In view of the bona fide belief of the assessee that the amount could have been received by her from her...

  7. TDS u/s 192 - non deduction of TDS on Cash medical benefit to employees - treating the assessee as, “assessee in default" - time limit for issue of notice u/s 201 - the...

  8. Penalty u/s 271D - loan amount obtained in cash from Directors in emergency - violation of provision of section 269SS - the assessee that on the different dates assessee...

  9. The ITAT Delhi held that the levy of penalty u/s 271D without valid satisfaction for alleged violation u/s 269SS is not justified. The AO must record satisfaction in the...

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

  11. The High Court held that for levying penalty u/s 271D for violation of Section 269SS, the Assessing Officer must record satisfaction that the provisions were violated....

  12. Penalty u/s 271D - reasonable cause - contravention of sec. 269SS - cash was taken by discounting cheques to meet the urgent business needs of the assessee - deletion of...

  13. Penalty u/s 271D not leviable as the assessee had reasonable cause for accepting cash payments from buyers unable to pay by account payee cheque or demand draft due to...

  14. Levy of penalty u/s 271B - Failure to get accounts audited u/s 44AB - the claim of the Assessee that he was under reasonable and bona fide belief that his turnover did...

  15. Penalty u/s 271D for violation of Section 269SS was challenged. ITAT held that where assessee received sale consideration for immovable property in cash exceeding Rs....

 

Quick Updates:Latest Updates