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Income Tax Penalty

Latest Articles


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 2271 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 3024 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 306 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 729 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 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 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


No Penalty for Discrepancies in ITR Regarding Disallowed Expenses: Bombay HC

January 30, 2024 1944 Views 0 comment Print

Bombay High Court ruling: No penalty for ITR upload mistake. Detailed analysis of the case between Principal Commissioner of Income Tax-13 and Pinstorm Technologies Pvt Ltd.

No section 272A(2)(k) Penalty for mere Technical Breach: ITAT Delhi  

January 25, 2024 459 Views 0 comment Print

Explore Ambience Developers vs. JCIT case: ITAT Delhi holds no penalty for technical breach under section 272A(2)(k) of the Income Tax Act. Detailed analysis and key insights.

No penalty on addition owing to variation in perception of valuer and that of AO

January 24, 2024 1794 Views 0 comment Print

ITAT Delhi cancels penalty under section 271(1)(c) in Identity Wellness Centre case. Displacement of fair market value supported by valuation report by AO.

Clarity Required on Basis for Penalty, Failure to Specify Renders Notice Invalid

January 13, 2024 408 Views 0 comment Print

Bombay High Court held that if an irrelevant matter is not struck off in the notice, it indicates the AO’s uncertainty regarding the basis for imposing the penalty. Such ambiguity implies non-application of mind, rendering the notice invalid.

HC directs AO to revise penalty orders in light of  fresh/revised assessment orders

January 10, 2024 333 Views 0 comment Print

Kerala High Court orders revision of penalty after fresh assessment in P.M. Abdul Nazeer vs ACIT case. Details of the judgment and its implications.

Section 270AA Immunity Cannot be Denied on Vague Grounds; Specific Violation Must be Specified

January 7, 2024 1452 Views 0 comment Print

Chambal Fertilizers triumphs in legal battle vs. PCIT (Rajasthan High Court). Court quashes penalty, emphasizing Section 270AA immunity. Details of the landmark case.

Penalty Notice Invalid: Lack of Clarity on Section 271(1)(c) Limb Triggers

December 27, 2023 471 Views 0 comment Print

Explore the case of Pr. CIT vs Ansal Properties: Penalty notice invalidated due to ambiguity in specifying Section 271(1)(c) limb for penalty proceedings.

Invalidity of Section 271(1)(c) Notice Without Specific Ground Specification

December 27, 2023 630 Views 0 comment Print

Explore the Karnataka High Court’s ruling on penalty notices under Income Tax Act in CIT vs SSA’s Emerald Meadows. Learn about specificity requirements and key findings.

Judicial Interpretation of Section 44 in Context of Insurance Business: Case Analysis

December 27, 2023 276 Views 0 comment Print

Delhi High Court’s ruling in Pr. CIT vs Sahara India Life Insurance Co. clarifies Section 44, emphasizes specificity in penalty notices under Section 271(1)(c).

HC directs Appellate Authority to review appeal without pre-deposit

December 26, 2023 654 Views 0 comment Print

Madras High Court, in the case of Anamallais Bus Transports P Ltd vs. PCIT, has prima facie set aside penalty proceedings under Section 271-E of the Income Tax Act. This article explores the court’s view, emphasizing no cash transactions and directing the Appellate Authority to review the appeal without pre-deposit.

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