Penalty under section 271(1)(c) - The return was revised with a ...

Case Laws Income Tax

November 16, 2015

Penalty under section 271(1)(c) - The return was revised with a view to co-operate the Department and to buy peace and to avoid litigation. The disclosure was with a specific plea that no penalty proceedings be initiated under section 271AAA or 271(1)(c) - No Penalty - AT

View Source

← Previous Next →

Penalty under section 271(1)(c) - The return was revised with a ...

Case Laws Income Tax

November 16, 2015

You may also like:

Penalty levied u/s.271(1)(c) - revised return filed - assessee has adopted the recourse of avoiding litigation, therefore, revised the return to buy peace of mind - no...

Levy of penalty u/s 271(1)(c) - weighted deduction u/s 35(1)(ii) claimed in the original return and later in the return filed in response to notice u/s 148 of the Act,...

Levy of penalty u/s 271(1)(c) - assessee has surrendered and agreed for the additions at the assessment stage merely to buy peace of mind and to avoid further litigation...

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)...

Validity of revised return 139(5) - Revised return did not conform to the prescription of section 139(5), before its substitution w.e.f. A.Y. 2017-18, which provided for...

Penalty proceedings u/s 271(1)(c) - Assessee company failed to provide bonafide explanation for inflated expenses claimed in revised return, contrary to audited...

Penalty u/s. 271(1)(c) - If AO accepted the revised return, there was no question of making inadmissible claim of deduction u/s 10B in such revised return. In fact,...

Validity of revised return u/s 139(5) - return was revised after issuance of intimation u/s 143(1) - claim of benefit of excess set off of losses and carry forward of...

Addition of amount shown in revised return under the pressure of the department - revised return should relate back to the return originally filed, minus the omissions...

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...

Levy of penalty u/s 271(1)(c) - assessment based on estimated income - professional entry operator - Nothing emerges from record that the assessee agreed to the addition...

Penalty u/s 271(1)(c) – Concealment of income – assessee agreed to be assessed at 11% of the gross receipts only “to buy peace” and “avoid litigation” cannot be accepted...

When the AO rejects the revised return then the whole return is invalid. In case AO makes addition from the revised return then it means that he recognizes the revised...

Penalty levied u/s 271(1)(c) - difference in original return of income and revised return - Had it been the intention of the assessee to make a full and true disclosure...

Levy of penalty u/s 271(1)(c) - disclosure of additional income consequent to survey operation - the explanations of the assessee that he has declared additional income...

Quick Updates: