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Income Tax Penalty

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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 1233 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 6132 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 2103 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 2871 Views 0 comment Print

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

Income Tax : Learn about consequences of not verifying your Income Tax Return within 30 days. Avoid penalties, delayed refunds, and loss of ben...

August 18, 2023 4908 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 19293 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 12783 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 40803 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 4284 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 65970 Views 31 comments Print


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

August 20, 2023 3483 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 4908 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 7110 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 516 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 261 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 483 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.

ITAT deletes Section 273B penalty due to non-receipt of e-assessment notice

August 6, 2023 537 Views 0 comment Print

Explore the ITAT Indore verdict regarding the case between Ankit Khandelwal and Assessing Officer, highlighting the deletion of a penalty under Section 273B due to non-receipt of e-assessment notice.

When Additions are Deleted in Quantum Appeal, Penalty Cannot Survive

August 6, 2023 1038 Views 0 comment Print

Read about the ITAT Mumbai ruling in DCIT Vs Knight Riders Sports Pvt Ltd, where penalty is cancelled due to deleted additions in quantum appeal.

ITAT deletes section 271F Penalty for Bona Fide ITR Filing Delay

August 6, 2023 1170 Views 0 comment Print

ITAT Jaipur lifts penalty for Mukesh Pathaks late ITR filing, deeming it a bona fide mistake with no revenue loss as proper tax was already paid.

Penalty u/s 271(1)(c) Inapplicable for Additions Using Peak Credit Theory

August 6, 2023 696 Views 0 comment Print

Read the full text of the ITAT Chennai order in the case of Edward Sam Vs ITO. Penalty provisions u/s 271(1)(c) are analyzed in light of quantum additions made using peak credit theory

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