Penalty u/s. 271(1)(c) - non disclosure of sale the lands and ...

Court Upholds Penalty for Non-Disclosure of Land and Windmill Sale u/s 271(1)(c); Highlights Tax Disclosure Importance.

August 28, 2020

Case Laws Income Tax HC

Penalty u/s. 271(1)(c) - non disclosure of sale the lands and windmill - As carefully perused the penalty order dated 25.09.2015 and we find that the Assessing Officer considered all the factual aspects raised by the assessee and rejected the same to be absolutely without bonafides. - HC

View Source

← Previous Next →

Penalty u/s. 271(1)(c) - non disclosure of sale the lands and ...

Court Upholds Penalty for Non-Disclosure of Land and Windmill Sale u/s 271(1)(c); Highlights Tax Disclosure Importance.

August 28, 2020

Case Laws Income Tax HC

You may also like:

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...

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...

Explanation versus bona finde explanation versus proper disclosure - Penalty under section 271(1)(c) - AT

Penalty u/s 271(1)(c) - sale of property - non-disclosure of the second sale deed - penalty restricted to the extent of non-disclosure of the second sale deed to be...

The Income Tax Appellate Tribunal (ITAT) held that every non-compliance with a notice u/s 142(1) gives a separate cause of action for levying penalty u/s 271(1)(b)....

Penalty u/s 271(1)(c) - non disclosure of capital gain on sale of land in the income tax return - Sale consideration by applying the provisions of section 50C (i.e...

The Income Tax Appellate Tribunal deleted the penalty levied u/s 271(1)(b) for non-compliance with a notice issued u/s 142(1) during reassessment proceedings....

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

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,...

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

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) – assessee has bonafide belief in making the claim that gain arising out of sale of agricultural land is exempt from tax - no penalty - AT

The assessee challenged the penalty imposed u/s 271(1)(c) for short credit of sale consideration received from the sale of copyrights and cable rights. The issue...

Penalty u/s 271(1)(c) - non-compliance of notice issues - if the quantum proceedings itself are declared to be bad in law and quashed , then any non compliance on the...

The ITAT held that penalty u/s 271(1)(c) was not imposable on the assessee. The assessee had voluntarily paid tax on income from sale of shares three years prior to...

Quick Updates: