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

Section 270A Imposes Penalties for Income Misreporting, Exempts Cases Already Penalized in Same or Different Year.

March 2, 2016

Act Rules Bill

Insertion of new section 270A - Penalty for underreporting and misreporting of income. - no addition or disallowance of an amount shall form the basis for imposition of penalty, if such addition or disallowance has formed the basis of imposition of penalty in the case of the person for the same or any other assessment year.

View Source

← Previous Next →

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

Section 270A Imposes Penalties for Income Misreporting, Exempts Cases Already Penalized in Same or Different Year.

March 2, 2016

Act Rules Bill

You may also like:

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 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...

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 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...

Amendment of section 273A. - power to reduce or waive penalty, etc., in certain cases. - It is proposed to make a reference of section 270A in clause (ii) and in the...

Penalty u/s 270A levied for assessee's willful misreporting of income by claiming both capital expenses and depreciation as application of income. ITAT held mens rea not...

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 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...

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...

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. - tax payable on under-reported income shall be calculated as if such...

The Appellate Tribunal held that for penalty u/s 270A, there must be satisfaction by the AO about concealment of income or inaccurate particulars. Citing Golden Peace...

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 -...

immunity from imposing penalty u/s 270AA - Penalty u/s 270A for failure to file the return of income (ITR) - Under Section 270 AA of the Income Tax Act, immunity from...

Quick Updates: