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Income Tax Penalty

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Section 271B: How to Safeguard Against Audit Penalty

Income Tax : Dive into Section 271B's mandates, penalties, and exemptions under the Income Tax Act. Explore real cases, challenges, and strateg...

April 17, 2024 4524 Views 0 comment Print

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 2448 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 1308 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 6159 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 2169 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 12804 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 40992 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 4401 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 66006 Views 31 comments Print


Latest Judiciary


Income determination in assessment cannot dictate filing of ITRs: ITAT Quashes section 271F Penalty

Income Tax : ITAT Ahmedabad quashes penalties under Section 271(1)(b) & 271F of the Income Tax Act, emphasizing that income determination in as...

April 18, 2024 141 Views 0 comment Print

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 312 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 756 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 825 Views 0 comment 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 2649 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 7306 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


Penalty quashed as AO not specified under which limb he intended to impose Penalty

May 16, 2023 510 Views 0 comment Print

ITAT Delhi deletes penalties imposed under section 271(1)(c) for concealment of income/filing inaccurate particulars in Babita Khurana vs DCIT case. Detailed analysis and ruling provided.

Section 271B Penalty – ITAT restores matter to CIT(A)

May 16, 2023 477 Views 0 comment Print

Shri Palabathuni Chandra Ravi Vs ITO (ITAT Hyderabad) Facts of the case, in brief, are that the assessee is an individual and filed his return of income electronically on 21.1.2018 declaring total income at Rs.6,21,210/-. During the course of assessment proceedings, it was noticed by the Assessing Officer that the assessee deposited a total of […]

No section 271(1)(c) penalty if Notice not contains Specific Charge

May 13, 2023 1152 Views 0 comment Print

M.A. Projects Private Limited Vs ACIT (ITAT Delhi) ITAT  note that the notice is an omnibus notice without specifying the specific charge upon the assessee and in such circumstances, Higher Courts have held that penalty levied is not sustainable. In this regard, we refer to Hon’ble Bombay High Court (Full Bench at Goa) in the […]

Penalty order cannot be dismissed for settlement of Quantum addition under VSVS

May 13, 2023 807 Views 0 comment Print

Penalty was levied under section 271 B of the Act on the ground that tax audit report under section 44AB of the Act was not filed by the assessee before filing of return of income and no explanation was given.

No penalty on income voluntarily declared in ROI after receipt of section 148 notice

May 12, 2023 12360 Views 0 comment Print

Voluntary Income declared by assessee on its own i.e. without any detection cannot be considered as equivalent to providing inaccurate particulars of income or concealing particulars of Income

Penalty u/s 271(1)(c) not leviable as error pointed out by AO was corrected before passing of order

May 8, 2023 729 Views 0 comment Print

Delhi High Court held that penalty under section 271(1)(c) of the Income Tax Act not leviable as error pointed out by AO was corrected by the assessee before passing of the assessment order.

Jurisdiction to levy penalty u/s 271(1)(c) fails for non-application of mind by AO

May 8, 2023 2313 Views 1 comment Print

Dinesh Sitaram Patil Vs ITO (ITAT Pune) We note that, while culminating the reassessment proceeding in the case of the assessee, the Ld. AO vide concluding para placed at page 4 of his order communicated the assessee his action of initiating the penalty proceedings u/s 271(1)(c) of Act for ‘under reporting / mis-reporting’ of income […]

Section 270A penalty cannot be imposed on addition on the basis of estimation

May 5, 2023 3330 Views 0 comment Print

Addition made on the basis of estimation cannot provide foundation for under-reported income for the purpose of imposition of penalty u/s 270A

If re-assessment order quashed than penalty levied has no legs to stand

May 4, 2023 1299 Views 0 comment Print

Since quantum appeal itself is being quashed, penalty levied as against reassessment order for furnishing inaccurate particulars has no legs to stand and same is liable to be quashed.

No Penalty for Concealment of Income on Ad-hoc Addition reduced by ITAT

May 3, 2023 960 Views 0 comment Print

Sawailal Bhatti Vs ITO (ITAT Mumbai) ITAT find that the assessee had filed all the details of purchases and corresponding sales had not been doubted. The sources of purchases are from the books and overall trading results have been accepted. Only allegation is that assessee has taken accommodation bills for the purchase of items to […]

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