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Income Tax - Highlights / Catch Notes

Home Highlights September 2012 Year 2012 This

Penalty u/s 271(1)(c) - The calibre and expertise of the ...


Taxpayer's Expertise Irrelevant in Inadvertent Error Penalty u/s 271(1)(c) of Income Tax Act.

September 27, 2012

Case Laws     Income Tax     SC

Penalty u/s 271(1)(c) - The calibre and expertise of the assessee has little or nothing to do with the inadvertent error. - SC

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

  2. Penalty u/s 271(1)(c) - the assessee has furnished bonafide and genuine explanations as to an inadvertent mistake committed by it which was an human error committed...

  3. The assessee had conceded the compensation income to be included as income from other sources. However, upon judicial examination, the compensation was found to be...

  4. Penalty u/s 271(1)(c) - inadvertent mistake - assessee, the returned income was ₹ 35.37 crores and an error of ₹ 1,30,869/- and ₹ 1,01,956/-, which the...

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  6. 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...

  7. 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...

  8. Penalty u/s 271(1)(c) - proof of contravention of provisions provided under explanation 5A to section 271(1)(c) - On reference to the provisions of explanation 5A to...

  9. Penalty u/s 271(1)(c) - Penalty under section 271(1)(c) of the Act is leviable to be imposed only where the assessee has concealed its particulars of income or furnished...

  10. Validity of the penalty u/s 271(1)(c) or 158BFA - AO has levied the penalty under section 271(1)(C) of the Act by observing that the assessee has concealed/furnished...

  11. 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...

  12. 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...

  13. 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...

  14. Penalty u/s.271(1)(c) or penalty u/s.271AAA - The provisions of Section 271AAA(3) of the Act specifically excludes the provisions of Section 271(1)(c) of the Act for the...

  15. Penalty u/s 271(1)(c) - Defective notice u/s 274 - The notice u/s. 274 r.w.s. 271(l)(c) of the Act were issued without striking off the irrelevant portion of the limb...

 

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