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