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Penalty for Concealment of Income

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Penalties and Prosecutions Under Income tax Act, 1961

Income Tax : Learn about the penalties and prosecutions under the Income Tax Act of 1961 for various defaults and offenses. Find out the fines ...

July 25, 2023 484578 Views 4 comments Print

Prosecutions and Punishment under Income Tax Act, 1961

Income Tax : Apart from penalty for various defaults, the Income-tax Act also contains provisions for launching prosecution proceedings against...

June 11, 2022 47121 Views 7 comments Print

Income Tax Offences liable to prosecution

Income Tax : Apart from levy of penalty for various defaults by the taxpayer, the Income-tax Law also contains provisions for launching prosecu...

June 8, 2022 57098 Views 4 comments Print

Football & Income Tax- Penalty, in both, is Hefty

Income Tax : Arjuna, while playing on the Football Ground if, a player pushes other players or creates any obstruction then the referee whistle...

October 14, 2020 8344 Views 0 comment Print

5 Ways to avoid Income Tax Penalties

Income Tax : We are morally bound to pay taxes, legally too. It is for the betterment of our own nation. The taxes we pay help the country deve...

December 12, 2019 6624 Views 1 comment Print


Latest Judiciary


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 417 Views 0 comment Print

No section 271(1)(c) penalty for mere section 35(2)(AB) claim disallowance

Income Tax : xplore DCIT Vs Polyplex Corp. Limited case. Learn why penalty for disallowed tax claim isn't justified. Details & key takeaways he...

May 24, 2024 300 Views 0 comment Print

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 6138 Views 0 comment Print

Section 271(1)(c) penalty not automatic on mere expense Disallowance or Income Enhancement 

Income Tax : Tribunal ruled that mere disallowance of expenses or enhancement of returned income does not automatically warrant the imposition ...

May 6, 2024 741 Views 0 comment Print

Section 271(1)(c) Penalty Unsustainable if Quantum addition Deleted

Income Tax : In a case of DCIT Vs Milan Kavin Parikh, ITAT Mumbai dismisses Revenue's appeal against deletion of penalty under Section 271(1)(c...

April 9, 2024 498 Views 0 comment Print


Latest Posts in Penalty for Concealment of Income

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

June 9, 2024 417 Views 0 comment Print

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.

No section 271(1)(c) penalty for mere section 35(2)(AB) claim disallowance

May 24, 2024 300 Views 0 comment Print

xplore DCIT Vs Polyplex Corp. Limited case. Learn why penalty for disallowed tax claim isn’t justified. Details & key takeaways here.

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

May 17, 2024 6138 Views 0 comment Print

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).

Section 271(1)(c) penalty not automatic on mere expense Disallowance or Income Enhancement 

May 6, 2024 741 Views 0 comment Print

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)

Section 271(1)(c) Penalty Unsustainable if Quantum addition Deleted

April 9, 2024 498 Views 0 comment Print

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.

Section 271(1)(c) penalty based on estimated addition & Defective notice is unsustainable

March 30, 2024 573 Views 0 comment Print

Read how ITAT Mumbai ruled in Jatin Enterprises vs ACIT case, quashing a penalty notice containing concealed and inaccurate income particulars.

Mere Allowable Deductions Variance is not Inaccurate furnishing of Income Particulars

March 24, 2024 510 Views 2 comments Print

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.

No Penalty U/s 271(1)(v) for Bona Fide Mistakes: Mumbai ITAT

March 20, 2024 591 Views 0 comment Print

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.

ITAT allows refund of Excess Appeal Fees & deletes penalty on estimated addition

March 19, 2024 465 Views 0 comment Print

Discover ITAT Mumbais decision in S Sagar Enterprise vs DCIT, allowing refund of excess appeal fees and deletion of penalty under section 271(1)(c) of the Income Tax Act.

Section 50C: Higher Property Sale Consideration Not Ground for Section 271(1)(c) Penalty

March 9, 2024 654 Views 0 comment Print

ITAT Delhi rules against penalty under Section 271(1)(c) for inaccurate income particulars from property sale, emphasizing legal and factual clarity.

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