Penalty levied u/s 271(1)(c) - Credit capital account with the ...

Penalty u/s 271(1)(c) Deemed Improper for "Gift Received" Due to Lack of Recorded Satisfaction.

April 14, 2020

Case Laws Income Tax AT

Penalty levied u/s 271(1)(c) - Credit capital account with the narration ‘Gift received’ - There is no merit in the levy of penalty under section 271(1)(c) of the Act where the initiation of penalty proceedings is without recording of satisfaction

View Source

← Previous Next →

Penalty levied u/s 271(1)(c) - Credit capital account with the ...

Penalty u/s 271(1)(c) Deemed Improper for "Gift Received" Due to Lack of Recorded Satisfaction.

April 14, 2020

Case Laws Income Tax AT

You may also like:

HC ruled penalty proceedings under sections 271D and 271E require explicit satisfaction to be recorded by Assessing Officer during reassessment. Mere recording of...

Penalty u/s 271(1)(c) - non recording of satisfaction - When satisfaction for initiation of penalty proceedings u/s 271(1)(c) of IT Act is recorded by the AO in...

Penalty u/s 271(1)(c) for furnishing inaccurate particulars of income - adjustment made u/s 92CA - penalty levied u/s 271(1)(c) on the adjustment made u/s 92CA is not...

Levy of penalty u/s. 271(1)(c) - Addition of LTCG - Assessing Officer while recording satisfaction has invoked both the charges of section 271(1)(c) - ambiguity and...

Section 271(1)(c) penalty was held invalid due to improper issuance of notice, as no proceedings were pending when the notice was issued on 19.12.2019. Section 271A...

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...

The assessment order passed u/s 153C was erroneous and prejudicial to the Revenue's interest. The Assessing Officer initiated penalty proceedings u/s 271AAC instead of...

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...

Penalty u/s 271(1)(c) - recording of satisfaction - penalty initiated u/s 143(3) order for concealment of particulars of income - penalty imposed for furnishing of...

Levy penalty u/s 271(1)(c) - since no specific satisfaction has been recorded by the Ld. Assessing Officer either in the body of the assessment order or in the show...

Penalty under Section 271(1)(c) - ingenuineness of the gift -penalty confirmed after considering all relevant facts and recording satisfaction in terms of Section...

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...

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(1)(c) - recording of satisfaction - mere direction in the assessment order to initiate penalty proceedings - Concealment/furnishing inaccurate...

The case involved a dispute over penalty imposition u/ss 271(1)(c) versus 271(1B) for additions related to estimated income from share trading transactions. The...

Quick Updates: