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Income Tax Penalty

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Draft Submission- No Section 271(1)(c) penalty when no specific limb been mentioned

Income Tax : Grounds of Appeal related to the penalty imposed u/s 271(1)(c) of the Act , 1961 AY 2015-16 1. In the facts and circumstances of t...

April 23, 2024 1929 Views 0 comment Print

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 5835 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 4896 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 1557 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 6342 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 19365 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 12873 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 41316 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 4674 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 66129 Views 31 comments Print


Latest Judiciary


Income Tax Notices Sent to Old Address Without Evidence of Service: ITAT Deletes Section 271(1)(b) Penalty

Income Tax : Read the detailed analysis of Sumit Maheshwari Vs ITO case where ITAT Delhi deletes penalty u/s 271(1)(b) of Income Tax Act due to...

June 16, 2024 105 Views 0 comment Print

No section 271B penalty if reasonable cause exist or if assessee establishes its bonafides

Income Tax : Read the full text of the order from ITAT Agra where penalty u/s 271B was deleted for Tasavver Husain vs ITO. Detailed analysis an...

June 13, 2024 750 Views 0 comment Print

Delay in SFT-005 Filing: Excuse of Server Issue Rejected by ITAT

Income Tax : Read about the case of Waghodia Urban Co. Op. Bank Limited vs. Director of Income Tax regarding a penalty levied under Section 271...

June 9, 2024 180 Views 0 comment Print

ITAT deletes Section 271(1)(c) penalty for Non-application of mind

Income Tax : Read the detailed analysis of ITAT Ahmedabad's order canceling penalty under section 271(1)(c) of the Income Tax Act. Co-owner sta...

June 9, 2024 486 Views 0 comment Print

ITAT Agra Deletes Section 271(1)(b) Penalty Order Passed on Notice Service Day

Income Tax : ITAT Agra deletes penalty levied u/s 271(1)(b) in Ganeshi Lal Narayan Das vs DCIT, citing procedural fairness and assessees bona f...

June 5, 2024 456 Views 0 comment Print


Latest Notifications


NFRA Penalizes RCFL Auditors with ₹2.5 Crore Fine for Audit Misconduct

Company Law : The NFRA fines Shridhar & Associates and CA Ajay Vastani for professional misconduct in auditing RCFL's financials for FY 2018-19....

May 16, 2024 10884 Views 0 comment Print

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 2709 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 7318 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 2500 Views 0 comment Print


Section 271AAC Penalty in respect of certain specified income

January 31, 2020 192360 Views 2 comments Print

Understand the penalty provisions of Section 271AAC of the Income Tax Act. Learn about the consequences of income determined under specific sections.

Section 271AAB Penalty on undisclosed income where search has been initiated  

January 29, 2020 29967 Views 0 comment Print

Understand the penalty provisions under Section 271AAB of the Income Tax Act for undisclosed income found during search proceedings.

Section 271AA Penalty for failure to maintain Transfer Pricing documents

January 28, 2020 18297 Views 1 comment Print

Understand the penalties for failure to maintain transfer pricing documents under section 271AA of the Income Tax Act.

Penalty & immunity under Section 270A / 270AA- Practical Issues

January 28, 2020 39327 Views 0 comment Print

Understand the practical issues related to the new penalty provisions under Section 270A of the Income Tax Act. Learn about underreporting and misreporting of income and the implications for taxpayers.

Section 271A Penalty for failure to keep / maintain or retain books of accounts, documents

January 27, 2020 43710 Views 0 comment Print

Understand the consequences of failing to maintain books of accounts and documents as required by section 271A of the Income Tax Act.

Section 270A(1) Penalty for under-reporting & misreporting of income

January 24, 2020 49806 Views 0 comment Print

Learn about the penalty provisions under section 270A(1) of the Income Tax Act for under-reporting and misreporting of income.

Penalty justified for not complying section 142(1) notices without reasonable cause

January 24, 2020 6951 Views 0 comment Print

 In the absence of any reasonable cause for failure of assessee in furnishing the information called for by the AO, penalty under section 271(1)(b) was rightly levied by AO for non-compliance of notice issued under section 142(1).

Section 234E Late Fee for default in filing of TDS / TCS returns

January 22, 2020 57180 Views 2 comments Print

Avoid penalties for late filing of TDS / TCS returns. Learn about section 234E of the Income Tax Act and the prescribed due dates.

Section 158BFA(2) – Penalty on undisclosed income for block period

January 21, 2020 16476 Views 0 comment Print

Understanding section 158BFA(2) of the Income Tax Act: Learn about the penalty for undisclosed income during the block period and the provisions for its imposition.

Section 234F Fee for delayed filing of return causing undue hardship

January 21, 2020 66129 Views 31 comments Print

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 31St December of the relevant assessment year and Rs.10,000, in other cases. However, it is also proposed to restrict the fees to Rs.1,000, where the total income does not exceed five lakh rupees.

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