ITAT Surat

ITAT deletes penalty on Failure of AO to mention specific limb of section 271(1)(c); Penalty cannot be imposed for mere valuation difference

Shah Virchand Govanji Jewellers Pvt. Ltd. v. ACIT-Valsad (ITAT Surat) - 

Penalty U/s. 271(c) Addition for difference on account of method of valuation of Closing Stock without any intention to to conceal income or furnishing of inaccurate particulars of income not justified...

Read More
Posted Under: Income Tax | | ,

Browse All Categories

CA, CS, CMA (3,863)
Company Law (4,056)
Corporate Law (4,096)
Custom Duty (7,073)
DGFT (3,759)
Excise Duty (4,159)
Fema / RBI (3,527)
Finance (3,732)
Goods and Services Tax (7,660)
Income Tax (28,079)
SEBI (2,948)
Service Tax (3,403)

Latest Posts

  1. Income from agricultural land supervision is not agricultural income
  2. Penalty U/s. 271B- Turnover means Actual TO not the TO declared in return
  3. AO not justified in not allowing standard deduction from annual letting value
  4. ICAI order on Misconduct against Delhi CAs remanded back to it by Appellate Authority
  5. Subsidy for setting up industries to generate employment not to be adjusted against cost of depreciable assets
  6. Join MSME certification Course on GST for Practitioners
  7. Interest u/s 201(1A)- Up to Date of Payment or date of filing return of income?
  8. GST on liquidated damages to be awarded by ICC
  9. GST Rate on GPS, Echo Sounder, Radio Detecting & Ranging etc.
  10. GST on whole (Sheep/Goat) animal carcass in its natural shape in frozen state supplied to Army
View All Latest Posts

Popular Posts

  1. Tax Audit Due date extension: Status of Writ filed in various High Courts (Updated on 23.10.2018)
  2. Extend due date of GSTR-3B & GSTR-1: RTCA
  3. Whether ITC for FY 2017-18 can be availed only till October 20, 2018
  4. Extend time limit to Furnish Form GSTR–1 & GSTR-3B: GSTBA
  5. Key 15 Action Points for filing GSTR -3B for September 2018
  6. Permit availment of GST input tax credit of FY 2017-18 till 31.12.2018: ICAI
  7. Advisory for Taxpayers to file Refund for Multiple Tax period
  8. Last Date of Making Changes under GST: Whether a serious affair?
  9. GSTR-3B for Sept 2018 Due date extended to 25th Oct 2018
  10. Quick Insight on sec 44AA, 44AB, 44AD – Presumptive Taxation
View All Popular Posts

Featured Posts

View All Featured Posts