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 September 2018 Year 2018 This

Penalty u/s 271 (1)(c) - when the computation was made u/s ...


Section 271(1)(c) Penalty Deemed Irrelevant for Tax Calculations u/s 115JB, No Concealment Affecting Tax Evasion.

September 20, 2018

Case Laws     Income Tax     AT

Penalty u/s 271 (1)(c) - when the computation was made u/s 115JB, the aforesaid concealment had no role to play and was totally irrelevant. Therefore, the concealment did not lead to tax evasion at all.

View Source

 


 

You may also like:

  1. Penalty for concealment of income Under Section 271(1) (c) - Article

  2. Voluntary surrender of income by assessee cannot be considered concealment. AO failed to prove concealment, merely concluded voluntary surrender as concealment....

  3. 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...

  4. Penalty u/s 271 AAB or u/s 271 (1)(c) - concealment on income - as per clause (2) of section 271AAB, no penalty under the provisions of clause (c) of sub-section (1) of...

  5. Validity of the penalty u/s 271(1)(c) or 158BFA - AO has levied the penalty under section 271(1)(C) of the Act by observing that the assessee has concealed/furnished...

  6. To impose penalty u/s 271(1)(c), willful concealment is not an essential ingredient - HC

  7. The ITAT held that penalty u/s 271(1)(c) was not imposable on the assessee. The assessee had voluntarily paid tax on income from sale of shares three years prior to...

  8. MAT is paid, additions were made to regular income, penalty not levied – 115JB, 271(1)(c)

  9. Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

  10. 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...

  11. Penalty u/s 271(1)(c) - tax was paid on the income assessed u/s 115JB - the concealment did not lead to tax evasion at all penalty u/s 271(1)(c) could not be imposed in...

  12. Penalty u/s 271(1)(c) - when the assessee company had been assessed to tax under the deeming provisions of Sec. 115JB of the Act, therefore, on the basis of our...

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

  14. Penalty u/s 271(1)(c) - proof of contravention of provisions provided under explanation 5A to section 271(1)(c) - On reference to the provisions of explanation 5A to...

  15. 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...

 

Quick Updates:Latest Updates