Insertion of new section 270A - Penalty for underreporting and ...

New Section 270A Introduces 200% Penalty for Misreporting Income, Targeting Underreported Cases with Hefty Tax Consequences.

March 2, 2016

Act Rules Bill

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 liable for penalty at the rate of two hundred per cent. of the tax payable on such misreported income.

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Insertion of new section 270A - Penalty for underreporting and ...

New Section 270A Introduces 200% Penalty for Misreporting Income, Targeting Underreported Cases with Hefty Tax Consequences.

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...

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...

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 - Since AO failed to bring the addition/disallowance he made in quantum assessment, under the ken of (a) to (f) of the...

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

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

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...

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 proceedings u/s.270A - unaccounted rental income - it is a case of misreporting of income as per provisions of Sec.270A(9) of the Act, and the AO has rightly...

AO imposed penalty under s.270A for unsubstantiated business expenses including advertising, development, land, and excavation charges, which were disallowed from...

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

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