Home Highlights April 2016 Year 2016 This

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1. Penalty u/s 271(1)(c) - non recording of satisfaction - When satisfaction for initiation of penalty proceedings u/s 271(1)(c) of IT Act is recorded by the AO in...

2. The Assessing Officer (AO) consciously deleted irrelevant portions from the show cause notice, mentioning only the charge of furnishing inaccurate particulars of income....

3. Levy penalty u/s 271(1)(c) - since no specific satisfaction has been recorded by the Ld. Assessing Officer either in the body of the assessment order or in the show...

4. Penalty u/s 271(1)(c) - the assessment order, by a fiction of law, is deemed to constitute satisfaction of the Assessing Officer for initiation of penalty proceedings - HC

5. Penalty u/s 271(1)(c) was levied by the Assessing Officer solely based on the order of the Income Tax Settlement Commission withdrawing immunity from penalty and...

6. Initiation of penalty proceeding u/s 271(1)(c) - ndisclosed income as referred under sub-Section 1 of Section 271AAA - Impugned penalty proceeding has been initiated and...

7. Penalty levied u/s 271(1)(c) - Credit capital account with the narration ‘Gift received’ - There is no merit in the levy of penalty under section 271(1)(c) of the Act...

8. The assessment order passed u/s 153C was erroneous and prejudicial to the Revenue's interest. The Assessing Officer initiated penalty proceedings u/s 271AAC instead of...

9. Monetary limit for filing of appeal by revenue in case of penalty - Penalty u/s 271(1)(c) on bogus purchases - Quantum proceedings and penalty proceedings are...

10. Penalty u/s 271(1)(c) - recording of satisfaction - mere direction in the assessment order to initiate penalty proceedings - Concealment/furnishing inaccurate...

11. Penalty proceedings u/s 271(1)(c) - Failure of the assessee to explain the source of cash deposit in the bank account - burden of proof - The ITAT acknowledged the...

12. 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...

13. Penalty u/s 271(1)(c) - non-compliance of notice issues - if the quantum proceedings itself are declared to be bad in law and quashed , then any non compliance on the...

14. The Appellate Tribunal considered the issue of penalty u/s 271(1)(c) of the Act. It was questioned whether a precise charge was brought against the assessee and if the...

15. Penalty u/s 271(1)(b) - Non-compliance with a notice issued u/s 142(1) - The Tribunal noted that in a previous round of proceedings, a penalty under section 271(1)(b) of...