Income Tax : Discover the implications of Income Tax Act Section 270A and penalties for under-reporting or misreporting income. Learn calculati...
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...
Income Tax : Dive into Section 271B's mandates, penalties, and exemptions under the Income Tax Act. Explore real cases, challenges, and strateg...
Income Tax : Learn how to avoid penalties under Section 270A of the Income Tax Act through understanding its provisions and utilizing Section 2...
Income Tax : Explore recent ITAT judgment in Rakesh Kr. Jha vs. ITO, delving into interpretation of Sections 271A and 271B, highlighting confli...
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 : Lucknow CA Tax Practicioners Association has made a Representation to FM for Extension of Time Limit for Assessment cases time bar...
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...
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...
Income Tax : Delhi HC: No penalty for New Holland Tractors if assessee's contention was plausible and bona fide, provided full disclosure of fa...
Income Tax : Read the full text of the ITAT Bangalore order in Laxmilal Badolla Vs NFAC. Penalty under Sec 271D cancelled due to reasonable cau...
Income Tax : Penalty u/s. 271D and 271E of the Income Tax Act cannot be imposed if assessment proceedings are quashed. Detailed analysis of Rav...
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...
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...
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...
Read the full text of ITAT Delhi’s order in Orient Clothing Co. vs. ACIT. Penalty under section 271(1)(c) deleted due to vague notices. Analysis and implications discussed.
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.
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.
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.
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.
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.
Chambal Fertilizers triumphs in legal battle vs. PCIT (Rajasthan High Court). Court quashes penalty, emphasizing Section 270AA immunity. Details of the landmark case.
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.
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.
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).
