Income Tax : Simplified penalty timelines under Section 275 effective April 2025, including changes in penalty powers, omissions, and clarifica...
Income Tax : Appeal against penalty under Section 271(1)(b) citing ill health, lack of awareness of Faceless Scheme, and procedural lapses. Req...
Income Tax : Section 115BBE imposes a high tax rate on unexplained income to prevent tax evasion. Learn about tax rates, penalties, and complia...
Income Tax : Income Tax Act amendments propose penalties by Assessing Officers instead of Joint Commissioners. Omission of section 271BB and ch...
Income Tax : From April 2025, Section 275 amendments standardize the penalty timeline to six months from the end of the quarter in which procee...
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 : In view of Indiscriminate notices by income Tax Department without allowing reasonable time it is requested to Finance Ministry an...
Income Tax : ITAT Mumbai deletes penalty under Section 271(1)(c) on estimated GP additions for alleged bogus purchases in Om Sai Traders case f...
Income Tax : ITAT Surat remands penalty case under Section 271B to AO, ruling that bank transactions alone cannot determine turnover. Fresh con...
Income Tax : ITAT Chennai rules that debatable tax claims made in good faith do not warrant penalties under Section 270A of the Income Tax Act....
Income Tax : ITAT Bangalore held that that mens rea is not an essential condition for imposing penalties under civil acts. Penalty u/s. 270A of...
Income Tax : ITAT Delhi quashes penalty on Babu Ram u/s 271(1)(c) as barred by limitation. Penalty order dated April 1, 2022, violated extended...
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...
Appeal against penalty under Section 271(1)(b) citing ill health, lack of awareness of Faceless Scheme, and procedural lapses. Request for deletion based on valid grounds.
Section 115BBE imposes a high tax rate on unexplained income to prevent tax evasion. Learn about tax rates, penalties, and compliance strategies.
ITAT Ahmedabad condones delay in appeal and remands case to CIT(A) for fresh adjudication in Lahar Joshi vs. ITO. Fair hearing and natural justice emphasized.
Madras High Court upholds ITAT ruling that Viswapriya Financial Services had reasonable cause for non-deduction of TDS under Section 194A, dismissing Revenue’s appeal.
ITAT Jaipur rules assessment valid despite no penalty initiation in Mikuni India case. Tribunal cites precedents, highlights separation of assessment and penalty proceedings.
Supreme Court emphasizes reasonable cause for TDS non-deduction under Section 271C. Highlights interplay of Sections 4, 5, 9, and 192 in integrated tax code.
ITAT Pune cancels penalty imposed on Balbir Kaur Birdie for non-compliance with tax notices, citing reasonable cause due to COVID-19 and technical issues.
Delhi High Court sets aside ₹14.63 crore penalty on Property Plus Realtors, ruling the order was issued beyond the statutory limitation period under Section 275(1)(c).
Delhi High Court dismisses appeal in PCIT vs Thapar Homes Ltd, ruling penalty under Section 271E was time-barred under Section 275(1)(c) of the Income Tax Act.
Karnataka HC quashed penalty imposed under Section 201 of Income Tax Act for non-deduction of TDS on professional advice, citing specific legal provisions and case facts.
