Penalty u/s 271(1)(c) - disallowance u/s 40(a)(ia) - The only ...

Case Laws Income Tax

August 27, 2020

Penalty u/s 271(1)(c) - disallowance u/s 40(a)(ia) - The only reason for which the expenditure was disallowed is due to non–deduction of tax at source. In other words, it is statutory disallowance. That being the case, the assessee cannot be accused of submitting inaccurate particulars of income or concealing its income - No penalty - AT

View Source

← Previous Next →

Penalty u/s 271(1)(c) - disallowance u/s 40(a)(ia) - The only ...

Case Laws Income Tax

August 27, 2020

You may also like:

Penalty levied u/s 271(1)(c) - disallowance u/s 40 (a)(ia) only for lack of payment of TDS while the payment was bonafide - Though the failure on the part of the...

Levy of penalty levied u/s 271(1)(c) - disallowance under section 40(a)(ia), does not amount to concealment of income - No penalty.

Penalty u/s 271(1)(c) - Disallowance u/s 40(a)(ia) - AO has not applied his mind before initiating the penalty proceedings rather borrowed his satisfaction from the “tax...

Penalty u/s 271(1)(c) - Since the assessee had furnished full particulars about the expenditure incurred including non–deduction of TDS in the tax audit report itself,...

Penalty proceedings u/s 271(1)(c) involved an addition based on estimation by the Assessing Officer, which was later re-estimated by the CIT(A) to disallow 10% of the...

Penalty u/s 271(1)(c) - disallowances in the quantum assessment order - whether any concealment or furnishing of inaccurate particulars proved? - Tribunal directs...

Penalty u/s 271(1)(c) - Disallowance of interest expenditure under section 43B as well as disallowance export product development expenses - Just because the assessee...

Levy of penalty u/s 271(1)(c) - disallowance of bogus purchases by applying the profit rate - Once there is no reason to disbelieve the sales made by the assessee and...

Penalty u/s 271(1)(c) - merely for the reason that the said expenditure was claimed as a revenue expenditure would not justify imposition of penalty under Sec....

Disallowance of expenditure u/s 40(a)(ia) – Whether disallowance of expenditure u/s 40(a)(ia) is ‘eligible profit’ from housing project u/s.80IB(10) - Held Yes - AT

Validity of penalty levied u/s 271(1)(b) - non-compliance - The assessee has shown sufficient cause for non-compliance, moreover, such non-compliance was done by...

Disallowance u/s 40(a)(ia) - TDS - Non deposition / submission of Form 15H / 15G is not a ground to disallow expense u/s 40(a)(ia) - AT

Penalty levied u/s 271(1)(b) - failure to comply with the notices issued by the A.O u/s 142(1) - the non-compliance on the part of the assessee is due to the reason of...

Deduction u/s 35(2AB) for in-house Research and Development (R&D) expenses was disallowed as the assessee failed to properly explain the basis of claim and reconcile the...

The ITAT upheld disallowance u/s 14A r.w.r.8D for expenditure on earning exempt income due to lack of fund utilization details. Dismissed appeal as assessee failed to...

Quick Updates: