Penalty u/s. 271(l)(c) - Voluntary disclosure of income or not - ...

Case Laws Income Tax

June 7, 2023

Penalty u/s. 271(l)(c) - Voluntary disclosure of income or not - revised return of income in which the assessee disclosed details of sale of immovable properties - It is a well-settled principle of law that if the assessee has made disclosure in the return of income, without the Department having brought the fact of omission on part of the assessee to the notice of the assessee, then it cannot be inferred that the revised return was filed pursuant to the omission having been detected by the Department. - AT

View Source

← Previous Next →

Penalty u/s. 271(l)(c) - Voluntary disclosure of income or not - ...

Case Laws Income Tax

June 7, 2023

You may also like:

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

Penalty u/s 271(1)(c) - Assessee filed return of income in response to notice u/s 148 - No difference between returned income and assessed income - Assessee voluntarily...

Penalty levied u/s 271(1)(c) - difference in original return of income and revised return - Had it been the intention of the assessee to make a full and true disclosure...

Rental income determination - assessee jointly owns 50% house property in Singapore with wife - offered 100% rental income for AY 2014-15 erroneously, rectified in...

Penalty u/s 271(1)(c) - additional income disclosure - surrender of income post survey u/s 133A - he disclosure made by the assessee is voluntary in nature, in the...

Penalty u/s 271(1)(c) - income voluntarily offered before commencement of assessment proceedings - the time limit for furnishing the revised return of income u/s 139(5)...

Penalty levied u/s.271(1)(c) - revised return filed - assessee has adopted the recourse of avoiding litigation, therefore, revised the return to buy peace of mind - no...

Penalty u/s 271(1)(c) - adjustment of the Short Term Capital Loss (STL) with Long Term Capital Gain (LTCG) - Non-disclosure of Dividened income - Assessee voluntarily...

Levy of penalty u/s 271(1)(c) - suo moto disclosure of income before detection by the AO - It is the settled law that the belated return cannot be revised under the...

Penalty u/s 271(1)(C) - reopening of assessment u/s 147 after filing of revised return - Revised return was not filed in response to notice issued u/s.148 and therefore,...

Penalty u/s 271(1)(c) - disclosure of income during survey - had it been the intention of the appellant to disclose the income voluntarily then the assessee would have...

Penalty u/s 271(1)(c) - surrender was not voluntary - assessee failed to explain the difference between the assessed income and returned income - penalty confirmed - AT

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) - If AO accepted the revised return, there was no question of making inadmissible claim of deduction u/s 10B in such revised return. In fact,...

Penalty levied u/s.271(1)(c) - The details of the transactions through which the income has been received, was there in the P & L Account of the assessee, which...

Quick Updates: