Penalty levied u/s 271(1)(c) - difference in original return of ...

Penalty Confirmed for Non-Disclosure of Income in Revised Tax Return u/s 271(1)(c); Notices Trigger Action.

October 9, 2019

Case Laws Income Tax AT

Penalty levied u/s 271(1)(c) - difference in original return of income and revised return - Had it been the intention of the assessee to make a full and true disclosure of its income, it would have filed a revised return of income before the issuance of the notice 143(2)/ 142(1) by the AO. - Penalty confirmed.

View Source

← Previous Next →

Penalty levied u/s 271(1)(c) - difference in original return of ...

Penalty Confirmed for Non-Disclosure of Income in Revised Tax Return u/s 271(1)(c); Notices Trigger Action.

October 9, 2019

Case Laws Income Tax AT

You may also like:

Non-filer assessee had taxable income but failed to file return u/s 139(1), later filed return in response to notice u/s 148 without considering section 50C provisions,...

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

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...

The assessee had conceded the compensation income to be included as income from other sources. However, upon judicial examination, the compensation was found to be...

Proceedings u/s 276-C (l)/276-D and 277 - Evasion of tax - on 26.09.2013 Show Cause Notice under Section 274 r/w 271 of the Act was issued against him and also that...

Penalty u/s 271(1)(C) - reopening of assessment u/s 147 after filing of revised return - Revised return was not filed in response to notice issued u/s.148 and therefore,...

Penalty u/s. 271(1)(c) - If AO accepted the revised return, there was no question of making inadmissible claim of deduction u/s 10B in such revised return. In fact,...

Penalty u/s 271(1)(c) was imposed on the assessee for not filing the return of income (ROI), despite having a bona fide belief that the income was non-taxable and tax...

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...

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...

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

Penalty u/s. 271(l)(c) - Voluntary disclosure of income or not - revised return of income in which the assessee disclosed details of sale of immovable properties - It is...

Penalty u/s 271(1)(c) - adjustment of the Short Term Capital Loss (STL) with Long Term Capital Gain (LTCG) - Non-disclosure of Dividened income - Assessee voluntarily...

Rental income determination - assessee jointly owns 50% house property in Singapore with wife - offered 100% rental income for AY 2014-15 erroneously, rectified in...

Penalty proceedings u/s 271(1)(c) r.w.s. 274 - additional income declared in the return filed in response to notice u/s 153A as compared to original returned filed u/s...

Quick Updates: