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 ...
ITAT Mumbai rules that penalty under section 271(1)(c) of the Income Tax Act is not leviable on estimated additions. The decision is based on the principle established in previous judgments.
In a significant ruling, ITAT Ahmedabad relieves an assessee from penalties due to accountant’s mistake. Full review of Dharmendrakumar B Mehta Vs ITO case here.
Learn about the penalties and prosecutions under the Income Tax Act of 1961 for various defaults and offenses. Find out the fines and imprisonment for non-compliance with tax regulations.
In-depth analysis of the recent Delhi High Court judgement in PCLT Vs Gopal Kumar Goyal, leading to a quashed 300% penalty imposed by the AO due to lack of clear indication on violation of the Income Tax Act, 1961.
ITAT has held in the case of Meera Anirudha Mirgunde Vs ITO that when there is no variation in the returned and assessable income, penalty under section 271(1)(c) of the Income Tax Act is not leviable.
Read the full text of the order of ITAT Jaipur in the case of Lalit Kumar Kalwar Vs ITO. The quantum appeal is allowed, and the deduction under Section 54F is granted, resulting in the penalty being vacated.
The ITAT Delhi nullifies the penalty imposed under Section 271(1)(c) of the Income Tax Act on Meena Singhal, as the notice issued did not specify the particular charge.
ITAT Pune has set aside an NFAC order in the Kongnoli Sarva Seva Society Ltd vs ITO case. The ruling established that incorrect claims of deductions or expenses in ITR does not equate to the concealment of income
The ITAT in Mumbai cancels penalties levied under Section 271(1)(c) of the Income Tax Act, in the case of Fancy Diamonds India Pvt Ltd. The tribunal held that such penalties aren’t applicable when additions are made purely on estimation
In the case of N.B. Builders & Promoters (P) Ltd Vs CIT, ITAT Chandigarh held that penalties cannot be imposed for mere lower gross profit based on assumptions and conjectures.
