Levy of penalty on disallowances on account of provision for ...

Case Laws Income Tax

April 6, 2016

Levy of penalty on disallowances on account of provision for gratuity - It s not a case of voluntary and suo moto disclosure of income. It is also not a case where the mistake can be said to be bonafide, as relevant evidences in the shape of ledger accounts were not furnished - levy of penalty confirmed - AT

View Source

← Previous Next →

Levy of penalty on disallowances on account of provision for ...

Case Laws Income Tax

April 6, 2016

You may also like:

Disallowance u/s 14A - non recording of satisfaction - Suo moto disallowances were not commented upon by the Assessing Officer but were completely disregarded and no...

Levy of Luxury Tax - concealment of sales - suo-moto power of revision - The two circumstances required to exist for the purpose of invoking the suo-moto revisional...

Penalty u/s 271AAB(1A)(b) was levied for suo moto disallowance of personal expenses u/s 37 by the assessee in the return filed in response to a notice u/s 153A. The...

Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

Penalty levied u/s. 271C - Non deduction of TDS - the provision created at the end of the accounting year has not been credited to the relevant parties to whom the...

Levy of Penalty u/s. 271B for failure to get accounts audited u/s 44AB - The ITAT held that once a penalty has been levied under Section 271A for non-maintenance of...

Suo-moto re-credit - duty paid twice - The appellant being law abiding assessee even though suo-moto credit was available to them, they had reversed the same on pointing...

Suo moto revision - Eligibility for deduction of the entire sub-contractors' payments made - Both the circumstances must co-exist before the revisional authority can...

Suo moto credit versus filing of refund claim - suo moto credit can be taken if duty is paid twice as excess duty paid is not a duty and same is deposit - AT

Admissibility Suo-moto credit – suo-moto admissible Cenvat credit taken, after getting a favourable decision from the first appellate authority, is correct. - AT

Disallowance u/s 14A read with Rule 8D - Assessing Officer did not record objective satisfaction for not accepting suo moto disallowance made by assessee. ITAT directed...

Levy of penalty u/s.271(1)(c) - estimation of disallowance at 50% of commission and improvement expenditure - in this case, the additions were made on the basis of...

Disallowance u/s 14A in return - not earned any exempt income - request for withdrawal of suo moto disallowance before the AO itself - permitted

Refund clam - payment of duty twice - once from the cenvat account and subsequently by cash through PLA - re-credit taken suo moto instead of claiming refund - claim...

The assessee is entitled to claim deduction u/s 10A/ u/s 10AA on additional income offered on account of suo moto adjustment and transfer pricing provisions.

Quick Updates: