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Income Tax - Highlights / Catch Notes

Home Highlights March 2017 Year 2017 This

Penalty u/s. 271(F) - non furnishing the return within the due ...

Case Laws     Income Tax

March 10, 2017

Penalty u/s. 271(F) - non furnishing the return within the due date - bonafide belief that income was not taxable - There was reasonable cause for the failure of the assessee to comply with the provisions of the Act - No penalty - AT

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  7. Penalty u/s 271(1)(c) - Explanation is bonafide is, we find, supported by the fact that during assessment proceedings the assessee, realizing his mistake even before...

  8. 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...

  9. Assessee, a non-resident Indian, did not file return of income for AY 2014-15 as TDS on interest income from investment was deducted at 12.5% instead of 10% under...

  10. Penalty proceedings u/s 271(1)(c) involved an addition based on estimation by the Assessing Officer, which was later re-estimated by the CIT(A) to disallow 10% of the...

  11. Penalty u/s 271(1)(c) - income voluntarily offered before commencement of assessment proceedings - the time limit for furnishing the revised return of income u/s 139(5)...

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  13. Levy of penalty u/s 271(1)(c) - Failure to offer full amount of Interest earned on income-tax refund as taxable income - The assessee did not contest this addition,...

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