Home Highlights May 2019 Year 2019 This

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1. Extended period of limitation - bonafide belief - The appellants have not been able to show any ground by which they could claim that they entertained a bonafide belief...

2. Penalty u/s 272A(2)(c) - Non-issuance of TDS certificate in time - assessee was under bonafide belief that once the tax has not been deposited to the Government account...

3. Penalty u/s 271D and 271E - violation of provision of section 269SS and 269T - Loan or deposits in Cash - Belief on the part of the assessee in view of the past history...

4. 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...

5. Penalty u/s 271(1)(c) - bonafide belief - restriction of claim of deduction u/s 80IC to 25% from 100% claimed on account of substantial expansion - differing orders...

6. Penalty u/s 271(1)(c) - disallowance of excessive depreciation - cost of acquisition of wind mill - whether or not assessee is entitled to the benefit under proviso to...

7. Penalty u/s 271(1)(c) of the Act - difference of opinion with regard to the nature of expenditure would not amount to furnishing of inaccurate particulars of income - AT

8. Penalty levied u/s 271B - assessee not got her accounts audited u/s 44AB - The assessee follows project completion method. Therefore, the claim of the assessee was that...

9. Difference of opinion between members of tribunal - difference of opinion on facts - manner in which issues to be addressed - HC

10. Penalty u/s 271F - assessee could not file the return of income because of preoccupation of the employment - there was a refund due, non filing of return of income...

11. Deduction u/s 80IA - treating the assessee-company as a ‘Contractor’ and not ‘Developer’ by the Department - merely because in the agreement for development of...

12. Penalty u/s 271(1)(c) - bonafide belief - Taxability of capital gain arises on sale of land - in absence of any monetary consideration assessee was under a bonafide...

13. The High Court held that the Assessing Officer cannot reopen the assessment u/s 147 merely based on a change of opinion. The assessee had fully and truly disclosed all...

14. Penalty u/s 271(1)(c) - assessee shown stock appreciation rights and gain as capital gain in place of perquisites under salary despite considering employer as perquisite...

15. TDS u/s 192 - Exemption u/s 10(5) - benefit of leave travel concession (LTC) - no claim of exemption could be made, out of the total ticket package spent on overseas...