Income Tax : Discover the implications of Income Tax Act Section 270A and penalties for under-reporting or misreporting income. Learn calculati...
Income Tax : Learn about the penalties and prosecutions under the Income Tax Act of 1961 for various defaults and offenses. Find out the fines ...
Income Tax : Apart from penalty for various defaults, the Income-tax Act also contains provisions for launching prosecution proceedings against...
Income Tax : Apart from levy of penalty for various defaults by the taxpayer, the Income-tax Law also contains provisions for launching prosecu...
Income Tax : Arjuna, while playing on the Football Ground if, a player pushes other players or creates any obstruction then the referee whistle...
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 detailed analysis of ITAT Ahmedabad's order canceling penalty under section 271(1)(c) of the Income Tax Act. Co-owner sta...
Income Tax : xplore DCIT Vs Polyplex Corp. Limited case. Learn why penalty for disallowed tax claim isn't justified. Details & key takeaways he...
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...
Income Tax : Tribunal ruled that mere disallowance of expenses or enhancement of returned income does not automatically warrant the imposition ...
Delhi HC: No penalty for New Holland Tractors if assessee’s contention was plausible and bona fide, provided full disclosure of facts. Legal interpretations may vary.
Discover the implications of Income Tax Act Section 270A and penalties for under-reporting or misreporting income. Learn calculation methods and exceptions.
Read the detailed analysis of ITAT Ahmedabad’s order canceling penalty under section 271(1)(c) of the Income Tax Act. Co-owner status and lack of concealment discussed.
xplore DCIT Vs Polyplex Corp. Limited case. Learn why penalty for disallowed tax claim isn’t justified. Details & key takeaways here.
Can penalty under Section 271(1)(c) be imposed if self-assessment tax was paid before notice u/s 148? Read the detailed analysis of Smt. Kavita Sachdev Vs ITO (ITAT Indore).
Tribunal ruled that mere disallowance of expenses or enhancement of returned income does not automatically warrant the imposition of penalties under Section 271(1)(c)
In a case of DCIT Vs Milan Kavin Parikh, ITAT Mumbai dismisses Revenue’s appeal against deletion of penalty under Section 271(1)(c) of the Income Tax Act, 1961, as the quantum addition was deleted.
Read how ITAT Mumbai ruled in Jatin Enterprises vs ACIT case, quashing a penalty notice containing concealed and inaccurate income particulars.
Explore the Bombay High Court’s ruling on PCIT vs. ICICI Bank Ltd regarding accuracy in income reporting and the deletion of penalties under Section 271(1)(c) of the IT Act.
Mumbai ITAT ruled no penalty under section 271(1)(c) if bona fide mistakes in original return were corrected during assessment. Full text analysis included.