Penalty u/s 271(1)(c) - after learning about the serious ...

Case Laws Income Tax

July 11, 2020

Penalty u/s 271(1)(c) - after learning about the serious irregularities in the activities of the aforesaid institute, acted in a bonafide manner, and in his return filed in compliance to notice issued u/s 148 of the Act, had withdrawn the claim of deduction u/s 35(1)(ii) that was earlier raised by him in the ‘Original’ return of income - there is nothing discernible from record which would conclusively prove to the hilt that the assessee had raised a false claim of deduction. - No penalty.

View Source

← Previous Next →

Penalty u/s 271(1)(c) - after learning about the serious ...

Case Laws Income Tax

July 11, 2020

You may also like:

Penalty u/s 271(1)(c) - addition u/s 68 - Penalty has been levied in a mechanical manner without application of mind. In our view, this is a serious mistake in the...

Penalty u/s 271(1)(c) - CIT(A) has given direction to the Assessing Officer to levy penalty equivalent to 100% tax under section 271(1)(c) of the Act. Mere estimate of...

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...

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 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) - when the assessee company had been assessed to tax under the deeming provisions of Sec. 115JB of the Act, therefore, on the basis of our...

This case deals with the levy of penalties u/ss 271AAA and 271(1)(c) of the Income Tax Act in relation to various additions made to the assessee's income based on seized...

Penalty u/s 271(1)(c) - Mandation of specification of charge - It is clear that for the AO to assume jurisdiction u/s 271(1)(c), proper notice is necessary and the...

Penalty u/s 271AAA or 271(1)(c) - The penalties u/s 271(1)(c) and 271AAA are attracted in different situations and both are mutually exclusive. Having initiated the...

Penalty levied u/s 271(1)(c) - Scope of penalty proceedings u/s 271(1)(c) of IT Act cannot be widened later to include within its scope such additions which were not...

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) - additional income in the return filed in response to notice u/s 153A/153C - The tribunal dismissed the appeal of the assessee, upholding the...

Penalty u/s 271(1)(c) - Penalty order did not specify the particular limb under which penalty u/s 271(1)(c) is levied. AO has not specified that penalty is either levied...

Monetary limit for filing of appeal by revenue in case of penalty - Penalty u/s 271(1)(c) on bogus purchases - Quantum proceedings and penalty proceedings are...

Penalty u/s.271(1)(b) - no compliance to notice u/s 142(1) - The AO levied the penalty for non-compliance of notice dated 13.06.2016, however, there is no reference of...

Quick Updates: