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 May 2017 Year 2017 This

Penalty u/s 271(1)(c) - after the survey operation, the assessee ...

Case Laws     Income Tax

May 9, 2017

Penalty u/s 271(1)(c) - after the survey operation, the assessee found there was omission to disclose the income otherwise taxable under the Income-tax Act and accordingly filed revised return within the statutory period and offered the same for taxation - No penalty - AT

View Source

 


 

You may also like:

  1. Levy of penalty u/s 271(1)(c) - Even if some discrepancies were found during the survey resulting in surrender of income by the assessee, once the assessee has declared...

  2. Penalty u/s 271AAB/271(1)(c) - cash was seized u/s 132A - the discrepancies were found during the survey - Obviously, no penalty can be imposed unless the conditions...

  3. Penalty u/s 271(1)(c) was imposed despite the assessee withdrawing the exemption claim u/s 10(38) for Long Term Capital Gain (LTCG) on sale of penny stocks and offering...

  4. Penalty u/s 271(1)(c) - Assessee filed return of income in response to notice u/s 148 - No difference between returned income and assessed income - Assessee voluntarily...

  5. Penalty u/s 271(1)(c) - There cannot be a penalty merely on the basis that the assessee has disclosed income after receiving the notice from the ADIT and the income was...

  6. 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...

  7. This case deals with the levy of penalties u/ss 271AAA and 271(1)(c) of the Income Tax Act in relation to various additions made to the assessee's income based on seized...

  8. Penalty u/s 271(1)(c) - disclosure of income during survey - had it been the intention of the appellant to disclose the income voluntarily then the assessee would have...

  9. Penalty u/s 271 (1)(c) - When interest income itself is not disclosed, there is no question of holding that all the facts relating to the interest income and material to...

  10. Penalty u/s. 271(1)(c) - surrender of income in survey proceedings - From the conduct of the assessee, it is clear that the surrender was lacking voluntariness. In our...

  11. Penalty u/s 271(1)(c) was levied on additional income voluntarily offered in the statement recorded u/s 132(4). However, no reference was made to corroborative...

  12. Penalty levied u/s 271 (1) (c) - As the appellants had disclosed the income, after detection by the department and as per the terms of settlement, the assessing officer...

  13. Penalty u/s 271(1)(c) - accrual of income for assessee society - In assessee`s appeal assessing officer treated contribution towards welfare Fund and Hospital Fund as...

  14. Penalty u/s. 271(1)(c) - recording of specific finding or not? - In para 7 of the penalty order u/s. 271(1)(c), the Assessing Officer held that it is found to be a fit...

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

 

Quick Updates:Latest Updates