Insertion of new section 270A - Levy of Penalty for under ...

Act Rules Bill

March 2, 2016

Insertion of new section 270A - Levy of Penalty for under reporting and misreporting of income - Paradigm shift from the existing policy of levy of penalty on account of concealment of particulars of income or furnishing inaccurate particulars of income

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Insertion of new section 270A - Levy of Penalty for under ...

Act Rules Bill

March 2, 2016

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Penalty proceedings u/s 270A - Applicable rate of penalty - The Appellate Tribunal noted that while the penalty notice cited under-reporting of income, the AO imposed...

Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

Penalty imposed u/s 270A(9) for underreporting and misreporting of income was challenged due to non-specification of clear charge. The Tribunal held that underreporting...

The Delhi High Court analyzed the levy of penalty u/s 270A for under-reporting and misreporting of income. The court emphasized that under-reporting and misreporting are...

Insertion of new section 270A - Penalty for underreporting and misreporting of income. - the cases of under-reported income falling under misreporting of income shall be...

Insertion of new section 270A - Penalty for underreporting and misreporting of income. - tax payable on under-reported income shall be calculated as if such...

Levy of penalty u/s 270A r.w.s. 274 - misreporting of income on the addition of leave encashment - levy of penalty is not automatic on mere making addition, if the...

Penalty levied u/s 270A - misreporting of income - Since AO failed to bring the addition/disallowance he made in quantum assessment, under the ken of (a) to (f) of the...

Penalty u/s 270A - imposition of penalty for under-reporting and misreporting of income - an addition made on the basis of estimation cannot provide foundation for...

This case pertains to the imposition of penalty u/s 270AA for under-reporting of income due to misreporting. The assessee had availed interest-bearing loans and advanced...

Penalty u/s 271(1)(c) - Penalty order did not specify the particular limb under which penalty u/s 271(1)(c) is levied. AO has not specified that penalty is either levied...

Penalty levied u/s 270A - misreporting of income un/s 270A(8) and 270A(9) or not - Assessee filed the ITR after search conducted on third party but before the due date...

Penalty levied by the AO u/s. 271AAB r.w.s. 274 - levy penalty of 30% on undisclosed income - the reasons given by the AO to levy 30% penalty on undisclosed income is...

Penalty levied u/s 271B - delayed furnishing of tax audit report u/s 44AB due to delay in getting statutory audit report under companies act - assessee had indeed...

Penalty u/s 270A - “under reporting” of the income - The assessee has not under reported any income. The addition has arisen on account of change in head of income. We...

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