Penalty u/s. 271(1)(c) - just because no explanation has been ...

Penalty u/s 271(1)(c) Not Justified by Lack of Explanation; Proceedings Are Independent of Assessments.

July 15, 2016

Case Laws Income Tax AT

Penalty u/s. 271(1)(c) - just because no explanation has been offered by the assessee during the penalty proceedings the Ld. AO cannot automatically proceed to levy penalty as admittedly penalty proceeding is independent of assessment proceedings. - AT

View Source

← Previous Next →

Penalty u/s. 271(1)(c) - just because no explanation has been ...

Penalty u/s 271(1)(c) Not Justified by Lack of Explanation; Proceedings Are Independent of Assessments.

July 15, 2016

Case Laws Income Tax AT

You may also like:

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...

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...

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 proceedings u/s 271(1)(c) - Assessee company failed to provide bonafide explanation for inflated expenses claimed in revised return, contrary to audited...

Penalty u/s 271(1)(c) - accepted quantum addition - in penalty proceedings he offer explanation that the jewellery found during search were already offered to tax in the...

Penalty u/s 271(1)(c) - there is no ‘tax sought to be evaded’, in terms of Explanation 4 to section 271(1)(c), on which penalty could be levied - even as the asessee has...

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...

Penalty u/s 271(1)(c) for furnishing inaccurate particulars of income - adjustment made u/s 92CA - penalty levied u/s 271(1)(c) on the adjustment made u/s 92CA is not...

The Appellate Tribunal held that despite the addition u/s 69B of the Income Tax Act being justified, the penalty u/s 271(1)(c) cannot be levied due to ambiguity...

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

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...

Penalty levied u/s 271(1)(b) and / or 272A(1)(d) - assessee failed to comply notice under Section 142(1) - The assessment order was passed u/s 143(3) and not under...

Levy of Penalty u/s 271(1)(c) in case of voluntary surrender of income - disallowance of claim of loss - Assessee offered the loss voluntarily to avoid litigation and...

Explanation versus bona finde explanation versus proper disclosure - Penalty under section 271(1)(c) - AT

Penalty levied u/s 271(1)(c) - Scope of penalty proceedings u/s 271(1)(c) of IT Act cannot be widened later to include within its scope such additions which were not...

Quick Updates: