Penalty u/s 271(1)(c) - debatable issue arises - partial income ...

May 31, 2023

Case Laws Income Tax AT

Penalty u/s 271(1)(c) - debatable issue arises - partial income not offered to tax - revenue from web hosting services - income in the nature of royalty or not - since the matter is debatable and still to attain the finality, levy of penalty is not sustainable - AT

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Penalty u/s 271(1)(c) - debatable issue arises - partial income ...

May 31, 2023

Case Laws Income Tax AT

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Penalty u/s 271(1)(c) was levied on additional income voluntarily offered in the statement recorded u/s 132(4). However, no reference was made to corroborative...

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Penalty u/s 271(1)(c) - addition u/s 68 being sale proceeds of shares, as income from undisclosed sources - the issue is debatable and in such a case no penalty was...

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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) - As a matter of fact the notice issued u/s 274 read with section 271 of the Act itself was ambiguous as it did not make it clear as to under which...

Penalty u/s.271(1)(c) - Nature of interest income - capital receipt or revenue receipt - This being a highly debatable issue and once there is a debate as assessee’s...

Penalty u/s. 271(1)(c) - The Revenue argued that the assessee's actions constituted furnishing inaccurate particulars of income or concealing income. However, the High...

The Appellate Tribunal addressed the issue of penalty u/s 271(1)(c) concerning the correct classification of income. The Assessing Officer treated the income as 'income...

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