Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights January 2017 Year 2017 This

Levy of penalty - there is change in opinion and basis for levy ...

Case Laws     Income Tax

January 3, 2017

Levy of penalty - there is change in opinion and basis for levy of penalty for concealment varies - there is no merit in levy of penalty under section 271(1)(c) of the Act and there is no merit at all in levying the penalty @150% - AT

View Source

 


 

You may also like:

  1. 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...

  2. Levy of penalty levied u/s 271(1)(c) - disallowance under section 40(a)(ia), does not amount to concealment of income - No penalty.

  3. Levy of penalty levied u/s 271(1)(c) - The failure of the Assessing Officer to record such satisfaction makes the order levying penalty invalid and bad in law and such...

  4. Levy of Penalty u/s. 271(1)(c) - The ITAT ruled that since there was no variation between the returned and assessed income, there was no concealment of income by the...

  5. Penalty u/s 27(1)(c) - addition u/s 68/69 for cash deposit in bank account - penalty has been initiated on the charge of furnishing inaccurate particulars, but Ld.AO...

  6. Reassessment - levy of entry tax - Once it was held that basis for reassessment was change of opinion, such reassessment was impermissible under law - HC

  7. Levy of penalty u/s. 221 - default the payment of TDS to the government - assessee in default - the Assessing Officer levied penalty at very exorbitant rate that 5% pm...

  8. Reopening of assessment - concept of change of opinion - The court agreed with the petitioner's argument, stating that the reopening of the assessment was indeed based...

  9. Reopening of assessment u/s 147 - reason to believe - commencement date / year for deduction u/s 80IA - Eligible from 1995 or 2000 - scope of change of opinion - We...

  10. Levy of penalty - Bonafide opinion of the assessee - On strict interpretation of Section 45 and Section 47 of the Act, 1969, the only conclusion would be that the...

  11. Penalty levied under 271(1)(c) - The revenue has tried to make out a case that since the addition was made pursuant to information from sales tax department, this...

  12. Notice u/s 271AAB to levy penalty u/s 271(1)(c) - AO gets the jurisdiction to levy the penalty by issuing a notice and therefore, it is not a procedural requirement but...

  13. Levy of penalty u/s 271(1)(c) - disallowance of bogus purchases by applying the profit rate - Once there is no reason to disbelieve the sales made by the assessee and...

  14. 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...

  15. Penalty u/s 271B - Tax Audit - delay in getting the books of accounts audited and furnishing the same - period of limitation for passing penalty orders - the levy of...

 

Quick Updates:Latest Updates