Immunity from penalty - statements u/s 132(4) - AO denied ...

Case Laws Income Tax

April 30, 2019

Immunity from penalty - statements u/s 132(4) - AO denied Immunity alleging that admitted tax liability was not paid in the returns filed u/s 153C - no time frame fixed in Clause 5(2) of the Explanation u/s 271(1)(c)for payment of tax - immunity granted even if paid tax belatedly

View Source

← Previous Next →

Immunity from penalty - statements u/s 132(4) - AO denied ...

Case Laws Income Tax

April 30, 2019

You may also like:

Penalty levied by the AO u/s. 271AAB r.w.s. 274 - levy penalty of 30% on undisclosed income - the reasons given by the AO to levy 30% penalty on undisclosed income is...

Penalty order u/s 271AAB for treating an amount included in the Return of Income as 'undisclosed income' was found unjustified. The Commissioner of Income Tax (Appeals)...

Addition based on retracted statement recorded on oath u/s 132(4)/133A - Statement taken even u/s 132(4) of the Act cannot be used as conclusive evidence if it is not...

Addition based on statements recorded u/s. 132(4) - Effect of retraction of statements recorded u/s. 132(4) of the Act - Taxation of capitation fee alleged to have been...

Use of materials seized and the statement furnished by the third parties against the assessee - the opportunity for the rebuttal to the assessee for the seized documents...

Addition on account of income surrendered as per statement u/s 132(4) - though the statement recorded u/s 132(4) has a better evidentiary value but it is also a settled...

Validity of statement - retraction of statement - the statement recorded u/s. 132(4) cannot be discarded merely because the retractment statements were filed. The...

Penalty u/s 271AAB - Section 271AAB of the Act, contemplates imposition of a penalty pursuant to the disclosure of income in statement recorded u/s. 132(4) of the Act by...

Addition u/s 68 cannot be made solely based on sworn statement recorded u/s 132(4) without corroborative materials. Onus lies on the Department to collect cogent...

Penalty u/s 271AAB - treating an amount included in the Return of Income as undisclosed income susceptible to penalty - search conducted u/s 132, assessment carried out...

Penalty u/s 271(1)(c) - ince Clause (2) did not prescribe the time limit within which the assessee should pay tax on income disclosed in the statement under Section...

Section 271AAB of the Act, contemplates imposition of a penalty pursuant to the disclosure of income in statement recorded u/s 132(4) of the Act by the assessee. It is...

Penalty u/s 271(1)(c) was levied by the Assessing Officer solely based on the order of the Income Tax Settlement Commission withdrawing immunity from penalty and...

Statement recorded u/s 133A (3)(iii) is different than the statement recorded during search and seizure u/s 132(4), both have different evidentiary value

Penalty order u/s 271AAA - disclosure of additions income pursuant to search u/s 132 - In the present case the assessee has disclosed the entire source of income and...

Quick Updates: