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

New Section 270A Penalizes Income Underreporting and Misreporting, Shifting Focus from Concealment Penalties to Direct Income Discrepancies.

March 2, 2016

Act Rules Bill

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 ...

New Section 270A Penalizes Income Underreporting and Misreporting, Shifting Focus from Concealment Penalties to Direct Income Discrepancies.

March 2, 2016

Act Rules Bill

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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...

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. - Appropriate provisions to cover minimum alternate tax and alternate minimum tax cases

Penalty u/s 270A - allegation of misreporting as per section 270A(9) - Penalty @200% in respect of excess claim of depreciation - The tribunal found that the...

Insertion of new section 270A - Penalty for underreporting and misreporting of income. - failure to record any receipt in books of account having a bearing on total...

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...

Insertion of new section 270A - Penalty for underreporting and misreporting of income. - Sub-section (6) of the proposed new section seeks to provide that under -...

Penalty u/s 270A - “underreporting” of income - right to be granted immunity under Section 270AA - In the present case, the petitioner has satisfied the aforesaid...

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

The case involved penalty proceedings u/s 270A for under-reporting or misreporting of income. The appellant argued that there was no underreporting as the transaction...

Penalty u/s 270A - immunity u/s 270AA - misreporting of income - there is not even a whisper as to which limb of Section 270A of the Act is attracted and how the...

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

ITAT held that no specific charge was framed against the assessee in the show-cause notice issued u/s 274 read with Section 270A for misreporting of income. While the...

Insertion of new section 270A - Penalty for underreporting and misreporting of income. - claim of expenditure not substantiated by any evidence will form misreporting of...

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...

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