Income Tax : The framework outlines penalties for defaults like under-reporting, TDS failures, and non-compliance, while allowing relief where ...
Income Tax : Furnishing incorrect crypto-asset information without rectification can attract a fixed penalty. The amendment strengthens account...
Income Tax : The Finance Bill, 2026 converts key penalties for audit and reporting delays into mandatory fees. The shift aims to reduce dispute...
Income Tax : The law now proposes a single consolidated assessment-cum-penalty order for under-reporting of income, reducing multiple proceedin...
Income Tax : The Tribunal held that penalty under Section 271DA cannot be imposed when the assessment order lacks recorded satisfaction of a 26...
Corporate Law : The Budget proposes a single integrated order for assessment and penalty to avoid parallel proceedings. The key takeaway is reduce...
Income Tax : Budget 2024 reduces penalty relief period for TDS/TCS statement filing from one year to one month. Changes effective April 2025....
Income Tax : New amendments to the Black Money Act from October 2024 raise the exemption threshold for penalties on foreign assets to ₹20 lak...
Income Tax : Discover the proposed changes to Section 275 of the Income-tax Act, eliminating ambiguity in penalty imposition timelines. Effecti...
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...
Income Tax : The case addressed ambiguity in penalty proceedings where the specific charge was not identified. The Court upheld deletion of pen...
Income Tax : The case involved an ambiguous penalty notice that did not clarify whether the charge was concealment or inaccurate particulars. T...
Income Tax : The case involved penalty on disallowance of purchases treated as non-genuine and estimated at 12.5%. Tribunal ruled that estimate...
Income Tax : The Tribunal held that penalty under section 271(1)(c) cannot be sustained when identical facts in earlier years led to deletion. ...
Income Tax : The ITAT held that penalty proceedings are invalid where the Assessing Officer does not specify whether the charge is concealment ...
Company Law : Penalty imposed on Cryo Scientific Systems for failure to maintain proper registers under Companies Act 2013. Learn more about the...
Company Law : The NFRA fines Shridhar & Associates and CA Ajay Vastani for professional misconduct in auditing RCFL's financials for FY 2018-19....
Income Tax : Order under Para 3 of the Faceless Penalty Scheme, 2021, for defining the scope of ‘Penalties’ to be assigned to the F...
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...
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...
ITAT Ahmedabad allows appeal despite 1607-day delay citing medical hardship. Penalty u/s 271(1)(c) questioned over income assessment.
ITAT Ahmedabad cancels penalty on I-Serve Systems as disallowance was based on estimation without proof of concealment or inaccurate income details.
ITAT Surat rules penalty under Section 271(1)(c) not sustainable where income addition is based on estimation of bogus purchases.
ITAT Ahmedabad rules no penalty under Section 271(1)(c) when income addition is based on estimation. Case details of Maruti Infrastructure Ltd. Vs DCIT explained.
ITAT Bangalore set aside penalty orders under Section 271B due to improper notice delivery to an unrelated email ID and failure to provide adequate response time.
ITAT Cochin remanded the case of Malanadu Co-op Bank on penalty immunity under Section 270A, directing AO to review the application on merits.
Kerala HC upheld the TDS penalty under Section 271C in US Technologies case, directing reconsideration of quantum. Read the detailed analysis of the judgment.
ITAT Visakhapatnam sets aside penalty on Malla Appalaraju under Section 271(1)(c) due to a defective notice, ruling it void ab initio.
ITAT Ahmedabad decision clarifies TDS penalty under 271C, aligning with Supreme Court’s US Technologies ruling. Learn key insights here.
ITAT Kolkata rules on Section 271AAC penalty, clarifying tax implications for returns filed under Section 139. Read the full case summary and key takeaways.
