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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 1140 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 5553 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 4017 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 1458 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 6225 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 19338 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 12846 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 41157 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 4560 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 66063 Views 31 comments Print


Latest Judiciary


No Penalty Under Section 271(1)(c) When No Tax is Evaded

Income Tax : Can penalty under Section 271(1)(c) be imposed if self-assessment tax was paid before notice u/s 148? Read the detailed analysis o...

May 17, 2024 3657 Views 0 comment Print

No Section 271B penalty if reasonable cause exist for delay in furnishing Tax Audit Report

Income Tax : Detailed analysis of the appeal against a penalty imposed under Section 271B of the Income Tax Act by the ITAT Delhi in the case o...

May 9, 2024 417 Views 0 comment Print

Differences in Approved Valuer’s Opinion Not Concealment of Income: ITAT Chennai

Income Tax : ITAT Chennai observed that differences in valuation opinions are common, and the assessee's claim based on an approved valuer's re...

May 9, 2024 243 Views 0 comment Print

No Penalty for Expenses Disallowed Ad Hoc or Due to some Missing Vouchers

Income Tax : ITAT observed that the disallowance of expenses by the AO was on an estimate and ad hoc basis due to the absence of supporting evi...

May 9, 2024 264 Views 0 comment Print

No section 270A penalty for addition on account of estimation of fair market value by Valuation Officer

Income Tax : ITAT Mumbai rules penalty under Section 270A deleted as I-T authority failed to consider reasons for difference in sale considerat...

May 9, 2024 516 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 17, 2024 9276 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 2688 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 7312 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 2446 Views 0 comment Print


HC directs Appellate Authority to review appeal without pre-deposit

December 26, 2023 708 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.

 Assessee succeeded in Quantum Appeal: Penalty not imposable

December 26, 2023 603 Views 0 comment Print

Delhi High Court judgment on PCIT vs GoDaddy: Assessee succeeds in quantum appeal, penalty deleted. Analysis of legal tenability and implications under Section 271(1)(c) of the Income-tax Act, 1961.

AO’s Failure to Specify Section 271(1)(c) Charge Detrimental to Penalty Proceedings

December 24, 2023 573 Views 0 comment Print

Explore the confusion surrounding Section 271(1)(c) penalty in PCIT Vs Modi Rubber Ltd. (Delhi High Court). Lack of clarity on concealment or inaccurate particulars raises questions.

AO Must Specify Relevant Limb of Section 271(1)(c) in Penalty Proceedings

December 24, 2023 609 Views 0 comment Print

Explore the Delhi High Court’s judgment in PCIT Vs Unitech Reliable Projects regarding Section 271(1)(c) penalties. The court emphasizes the necessity of specifying the relevant limb in penalty proceedings.

No Section 271(1)(c) penalty if AO not indicate which limb is attracted

December 24, 2023 543 Views 0 comment Print

Delve into Delhi High Court’s judgment on PCIT Vs Minu Bakshi, exploring penalty imposition, notice specifics, and impact on income tax cases.

No Penalty if penalty Imposition Notice not Specify Section 271(1)(c) Limb

December 23, 2023 279 Views 0 comment Print

PCIT vs. Minu Bakshi: Delhi High Court Clarifies No Penalty if notice for the imposition of penalty did not specify particular limb of Section 271(1)(c) under which penalty was levied.

HC Upholds Deletion of Penalty as Notice Lacks Precision on Section 271(1)(c) Limb

December 23, 2023 168 Views 0 comment Print

CIT (Exemptions) Vs Jamnalal Bajaj Foundation, Delhi High Court emphasized that penalty notice must specify precise limb of Section 271(1)(c) under which penalty is imposed.

ITAT’s Deletion of Addition Invalidates related Section 271(1)(c) Penalty

December 23, 2023 876 Views 0 comment Print

ITAT has deleted the entire addition and disallowance based for imposition of penalty, the penalty imposed so cannot continue and therefore, deserves to be deleted in full with reference to aforesaid the addition & disallowance.

HC upheld penalty deletion as notice not specifies appropriate limb for penalty 

December 23, 2023 174 Views 0 comment Print

In PCIT Vs Bhudeva Estate Pvt. Ltd., Delhi High Court emphasized that notices for penalty under Section 271(1)(c) must explicitly specify grounds for penalty imposition.

AO must explicitly mention grounds for imposing Section 271(1)(c) penalty

December 22, 2023 582 Views 0 comment Print

Explore the Delhi High Court judgment on Penalty u/s 271(1)(c) of Income Tax Act for AY 2014-15. Detailed analysis and legal insights on inaccurate particulars. Read more.

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