Amendment of section 271. - existing penalty provisions for ...

Section 271 Amendment: Penalties for Concealing Income Not Applicable from Assessment Year Starting April 1, 2017.

March 2, 2016

Act Rules Bill

Amendment of section 271. - existing penalty provisions for concealment of particulars of income or furnishing inaccurate particulars of income, is leviable. - provisions of section 271 shall not apply to and in relation to any assessment for the assessment year commencing on or after the 1st day of April, 2017.

View Source

← Previous Next →

Amendment of section 271. - existing penalty provisions for ...

Section 271 Amendment: Penalties for Concealing Income Not Applicable from Assessment Year Starting April 1, 2017.

March 2, 2016

Act Rules Bill

You may also like:

The assessee had conceded the compensation income to be included as income from other sources. However, upon judicial examination, the compensation was found to be...

Penalty u/s 271 (1) (c) - Income disclosed only after the search and seizure operation - The High Court emphasized that Explanation 5A of Section 271(1)(c) deems...

Penalty levied u/s 271(1)(c) - Basis adopted during the assessment proceedings cannot be used in the penalty proceedings without following the due process. As such, to...

Validity of the penalty u/s 271(1)(c) or 158BFA - AO has levied the penalty under section 271(1)(C) of the Act by observing that the assessee has concealed/furnished...

Non-filer assessee had taxable income but failed to file return u/s 139(1), later filed return in response to notice u/s 148 without considering section 50C provisions,...

Penalty u/s. 271(1)(c) - It cannot be said that assessee has concealed the particular income with the meaning of section 271(1)(c) of the Act or there is not deep...

Penalty u/s.271(1)(c) or penalty u/s.271AAA - The provisions of Section 271AAA(3) of the Act specifically excludes the provisions of Section 271(1)(c) of the Act for the...

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 u/s. 271(1)(c) - assessee had wrongly shown the rental income as 'business income' - Even the pertinent fact on the file is that in the immediate preceding...

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 271(1)(c) was imposed despite the assessee withdrawing the exemption claim u/s 10(38) for Long Term Capital Gain (LTCG) on sale of penny stocks and offering...

Substitution of new section for section 153B- Time limit for completion of assessment under section 153A. - The limitation for completion of assessment under section...

Penalty u/s 271 AAB or u/s 271 (1)(c) - concealment on income - as per clause (2) of section 271AAB, no penalty under the provisions of clause (c) of sub-section (1) of...

The Appellate Tribunal addressed the issue of penalty u/s 271(1)(c) concerning the correct classification of income. The Assessing Officer treated the income as 'income...

Penalty u/s 271(1)(c) - disallowance of excessive depreciation - cost of acquisition of wind mill - whether or not assessee is entitled to the benefit under proviso to...

Quick Updates: