Penalty levied u/s 271(1)(c) - deduction of LTCG u/s 54F - The ...

Case Laws Income Tax

March 3, 2022

Penalty levied u/s 271(1)(c) - deduction of LTCG u/s 54F - The assessee acted in bona fide belief and made the claim is not acceptable due to any reason and was disallowed the same cannot be subject to levy of penalty under section 271(1)(c) . - AT

View Source

← Previous Next →

Penalty levied u/s 271(1)(c) - deduction of LTCG u/s 54F - The ...

Case Laws Income Tax

March 3, 2022

You may also like:

Penalty for non deduction of tax at source - bona fide belief proved - penalty set aside - AT

Penalty u/s 271(l)(c) - The assessee has immediately on receipt of the notice u/s 142(1) has revised the computation of income restricting the deduction claimed u/s 54F...

Penalty levied u/s 271(1)(c) - disallowance of the deduction claimed by the assessee u/s 35 - AO has not brought out his case as to why penalty u/s.271(1)(c) of the Act...

The assessee failed to file the original return of income, and the Assessing Officer initiated penalty proceedings for underreporting income. The assessee's authorized...

Penalty under section 271(1)(c) – assessee in bona fide belief that Dharmada collections were not part of its income but were diverted by an overriding title towards...

Levy of penalty u/s 271(1)(c) - weighted deduction u/s 35(1)(ii) claimed in the original return and later in the return filed in response to notice u/s 148 of the Act,...

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...

Penalty u/s 271(1)(c) was imposed despite the assessee withdrawing the exemption claim u/s 10(38) for Long Term Capital Gain (LTCG) on sale of penny stocks and offering...

MAT is paid, additions were made to regular income, penalty not levied – 115JB, 271(1)(c)

Penalty under section 271(1)(c) - bona fide or mala fide with an intention to evade taxes - not exigible to levy of penalty under section 271(1)(c) of the Act where the...

Levy of penalty u/s 271(1)(c) - gift was received under bona fide belief that the same was a genuine gift - it was taxed during assessment proceedings but the penalty...

Penalty under section 271(1)(c) - disallowance of depreciation - he explanation given by the assessee for the claim of depreciation is neither bona fide nor...

Penalty u/s 271(1)(c) – In the garb of the bona fide claim an assessee cannot escape levy of penalty - Onus was not on the AO to prove the negative - AT

Penalty u/s 271B was levied on the assessee for failure to get accounts audited despite turnover exceeding prescribed limit u/s 44AB. The Assessing Officer relied solely...

Quick Updates: