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Income Tax Penalty

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How Penalty Under Section 270A Can Be Avoided

Income Tax : Learn how to avoid penalties under Section 270A of the Income Tax Act through understanding its provisions and utilizing Section 2...

April 9, 2024 2226 Views 0 comment Print

A Critical Appreciation of Ranchi Bench of ITAT in Rakesh Kr. Jha vs. ITO

Income Tax : Explore recent ITAT judgment in Rakesh Kr. Jha vs. ITO, delving into interpretation of Sections 271A and 271B, highlighting confli...

November 29, 2023 1305 Views 0 comment Print

Penalties for not Maintaining Documents for Specified Domestic Transactions

Income Tax : Penalties for failing to maintain records of specified domestic transactions. Learn about arm's length pricing & essential documen...

November 3, 2023 6156 Views 0 comment Print

Supreme Court Ruling on TDS Penalty in US Technologies Case – A Detailed Analysis

Income Tax : Read about Supreme Court's decision in US Technologies case regarding TDS penalty under Section 271C of Income Tax Act, 1961, for ...

September 30, 2023 2166 Views 0 comment Print

Wrong Income Tax Refund Claims: Consequences & Remedies

Income Tax : Explore the consequences of making incorrect income tax refund claims and the associated legal ramifications. Understand the penal...

August 20, 2023 3021 Views 0 comment Print


Latest News


Late Fees, Interest, threat to levy penalty or to initiate prosecution – Tax Terrorism

CA, CS, CMA : People are held hostage in a cyber-world with ransom in the form of Late Fees and Interest and a threat to levy penalty or to init...

October 21, 2022 19302 Views 6 comments Print

Indiscriminate Income Tax notices without allowing reasonable time

Income Tax : In view of Indiscriminate notices by income Tax Department without allowing reasonable time it is requested to Finance Ministry an...

March 20, 2022 12801 Views 0 comment Print

Extend Time Limit for Income Tax Assessment time barring on 31.3.2022

Income Tax : Lucknow CA Tax Practicioners Association has made a Representation to FM for Extension of Time Limit for Assessment cases time bar...

March 20, 2022 40974 Views 2 comments Print

Request for Rationalisation of Section 270AA Penalty Provisions

Income Tax : A reasonable leniency may be exercised by the AOs to allow the Taxpayer’s who have paid the tax and interest beyond the time lim...

August 22, 2021 4392 Views 1 comment Print

Section 234F Fee for delayed filing of return causing undue hardship

Income Tax : The Finance Bill, 2017 proposes to levy fees of Rs.5,000 in case where return is furnished after the due date but on or before 31S...

January 21, 2020 65997 Views 31 comments Print


Latest Judiciary


Section 271(1)(c) Penalty Unsustainable if Quantum addition Deleted

Income Tax : In a case of DCIT Vs Milan Kavin Parikh, ITAT Mumbai dismisses Revenue's appeal against deletion of penalty under Section 271(1)(c...

April 9, 2024 297 Views 0 comment Print

No Section 270A Penalty if No Misreporting or Underreporting by Assessee

Income Tax : Detailed analysis of Mahendra N. Patel Vs DCIT case where ITAT Ahmedabad nullifies penalty due to absence of misreporting or under...

April 3, 2024 723 Views 0 comment Print

Section 271D Penalty: ITAT Directs AO to Verify Reasonable Cause for Cash Loan

Income Tax : In the case of SVT Wholesale Pvt. Ltd. Vs JCIT, the ITAT Bangalore evaluates the penalty imposed under Section 271D for violating ...

March 31, 2024 423 Views 0 comment Print

Section 270A(9)(a) Penalty Cannot be Levied for Adhoc Disallowance of Expenditure

Income Tax : VDB Infra vs. ITO: ITAT Bangalore case involves TDS deduction dispute resulting in penalty deletion under Section 270A(9)(a) by th...

March 27, 2024 801 Views 0 comment Print

Mere Allowable Deductions Variance is not Inaccurate furnishing of Income Particulars

Income Tax : Explore the Bombay High Court's ruling on PCIT vs. ICICI Bank Ltd regarding accuracy in income reporting and the deletion of penal...

March 24, 2024 402 Views 2 comments Print


Latest Notifications


Scope of Penalties to be assigned to Faceless Penalty Scheme, 2021

Income Tax : Order under Para 3 of the Faceless Penalty Scheme, 2021, for defining the scope of ‘Penalties’ to be assigned to the F...

February 26, 2021 2643 Views 0 comment Print

Limitation for penalty proceedings U/s. 271D & 271E

Income Tax : It is a settled position that period of limitation of penalty proceedings under section 271D and 271E of the Act is governed by th...

April 26, 2016 7300 Views 0 comment Print

Limitation commencement for penalty proceedings U/s. 271D &271E

Income Tax : It has been brought to notice of CBDT that there are conflicting interpretations of various High Courts on the issue whether the l...

April 26, 2016 2431 Views 0 comment Print


PCIT cannot direct AO to initiate penalty proceedings u/s 271(1)(c)

August 24, 2023 3858 Views 0 comment Print

ITAT Hyderabad held that law doesn’t permit delegation of authority by PCIT to Assessing Officer (AO) for the purpose of imposition of penalty. Accordingly, direction issued by PCIT to AO to initiate penalty proceedings u/s 271(1)(c) of the Income Tax Act is unlawful.

Levy of penalty u/s 271D without any assessment proceedings is invalid

August 24, 2023 2271 Views 0 comment Print

ITAT Indore held that the penalty levied u/s 271D of the Income Tax Act without any assessment proceedings in the case of the assessee is not valid and liable to be quashed.

Penalty under section 271D Not Sustained for Loans via Banks: ITAT

August 21, 2023 471 Views 0 comment Print

ITAT Ahmedabad rules that Section 271D penalty doesn’t sustain if a loan is accepted through banking channels, relating to A.Ys. 2013-14 & 2016-17.

Wrong Income Tax Refund Claims: Consequences & Remedies

August 20, 2023 3021 Views 0 comment Print

Explore the consequences of making incorrect income tax refund claims and the associated legal ramifications. Understand the penalties, fines, and potential imprisonment involved. Learn about Section 139(8A) for rectifying mistakes and ensuring compliance. Stay informed to maintain financial integrity.

No Penalty under 271(1)(c) if income is furnished to Tax Authorities at initial assessment stage

August 20, 2023 4071 Views 0 comment Print

Ashvin Narayan Bajoria (HUF) Vs ITO (ITAT Surat) Recently the SMC Bench of Surat Income Tax Appellate Tribunal passed a judgement in the aforementioned case deleting the penalty levied by the Ld. Assessing Officer under section 271(1)(c) of the Act for concealment of income. The central point of discussion was whether or not penalty imposed […]

File Income Tax Return & Verify in 30 Days or Pay Rs.1000/5000 Penalty

August 18, 2023 4956 Views 0 comment Print

Learn about consequences of not verifying your Income Tax Return within 30 days. Avoid penalties, delayed refunds, and loss of benefits. Find out how to e-verify your return easily.

ITAT Upholds Penalties u/s 271A & 271B for Bookkeeping & Tax Audit Lapses

August 17, 2023 7302 Views 3 comments Print

Read analysis of ITAT judgment in Saraswati Gupta vs. ITO case confirming penalties under sections 271A and 271B for not maintaining and auditing books of account. Learn about the outcome and reasoning.

No section 271C penalty for TDS Non-Deduction if Form 15G & 15H submitted

August 12, 2023 537 Views 0 comment Print

Analysis of ITAT Ahmedabad’s decision in Unity Dye Chem Pvt. Ltd. vs CIT case. Penalty under section 271C not applicable if TDS non-deduction supported by Form 15G/H.

Section 271(1)(c) Inapplicable if No Income Concealment by Assessee

August 7, 2023 279 Views 0 comment Print

Read the full text of ITAT Ahmedabad’s order deleting the penalty u/s 271(1)(c) for Dineshkumar Kanjibhai Patel-HUF as no concealment of particulars or inaccurate income filing found.

AO changed foundation for levy of penalty – ITAT deletes penalty for inconsistency

August 6, 2023 492 Views 0 comment Print

Explore the ITAT Delhi’s ruling in the Sheetal Mehra vs ITO case, where an inconsistent application of penalty led to its deletion.

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