Home Highlights September 2012 Year 2012 This

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1. Penalty u/s 271(1)(c) - Making an incorrect claim in law cannot tantamount to furnishing inaccurate particulars under Section 271(1)(c) of the Act. Mere making of a...

2. Penalty u/s 271(1) - addition of wrong claim u/s 80IB made by assessee in the return & surrendered during scrutiny proceedings - such claim is solely based on the report...

3. Penalty u/s 271(1)(c) was imposed for denying deduction u/s 80DD for a disabled person with over 80% disability. The assessee, a retired individual, had submitted...

4. Penalty u/s. 271(1)(c) - deduction u/s. 80GGC denied - second round of appeal - the Tribunal ruled in favor of the assessee, holding that the claim for deduction was...

5. Penalty u/s 271(1)(c) - Assessee in this case has never revised its return during the period prescribed u/s 139(1) rather withdrew the claim during assessment...

6. Penalty u/s 271(1)(c) - assessee had sold a plot of land in respect of which deduction u/s 54B claimed - withdrawal of deduction u/s 54B - merely because the assessee...

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

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

9. Penalty u/s 271(1)(c) - bogus claim of deduction under Section 35CCA - penalty under Section 271(1)(c) was rightly imposed - HC

10. Penalty levied u/s 271(1)(c) - disallowance of the deduction claimed by the assessee u/s 35 - AO has not brought out his case as to why penalty u/s.271(1)(c) of the Act...

11. Levy of penalty u/s 271(1)(c) - weighted deduction u/s 35(1)(ii) claimed in the original return and later in the return filed in response to notice u/s 148 of the Act,...

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

13. Penalty u/s 271(1)(c) - disallowance of professional fees for non-deduction of TDS - Merely not filing appeal on the contesting issues does not tantamount to concealment...

14. Penalty u/s 271(1)(c) - not entitled for the deduction U/s 54 - claim deduction allowed U/s 54F - once, the assessee has explained the reasons for making a wrong claim...

15. Disallowance of deduction u/s 80IB(10) and the levy of penalty u/s 271(1)(c). The Assessing Officer disallowed the deduction claim on two grounds: most residential units...