Income Tax : Understand the consequences of an adverse income tax order, including high tax rates, penalties, interest, and steps to appeal or ...
Income Tax : Understand penalties for under-reporting or misreporting income under Section 270A of the Income Tax Act. Fines range from 50% to ...
Income Tax : Learn about penalty provisions under the IT Act, including penalties for defaults in tax payment, income reporting, and more. Key ...
Finance : Learn about Section 270A introduced in Finance Act 2016, effective from April 1, 2017, outlining penalties for under-reporting and...
Income Tax : Discover the implications of Income Tax Act Section 270A and penalties for under-reporting or misreporting income. Learn calculati...
Income Tax : Explore amendments to section 253 of Income-tax Act, adjusting time limits for filing appeals to the Income Tax Appellate Tribunal...
Income Tax : Patna High Court held that there is no jurisdictional error since material/ documents based on which order of assessment has been ...
Income Tax : Kerala High Court rules serving draft assessment order not mandatory for 'ordinary assessees' under former Section 144B faceless t...
Income Tax : ITAT Pune held that delay in filing of an appeal before CIT(A) condoned due to company’s financial position and non-pursuing of ...
Income Tax : ITAT Surat confirms ₹4.10 Cr addition u/s 69 for unexplained investment, upholds authority to dismiss cases for non-compliance....
Income Tax : ITAT Ahmedabad sets aside CIT(A) order, emphasizing that genuine explanations for delays in filing appeals for high-value tax disp...
ITAT Pune removes Section 270A penalties due to defect in penalty notice lacking reference to specific misreporting clause. Appeals allowed for two assessment years.
ITAT Pune deletes Section 270A penalty on salaried assessee due to lack of specific clause in penalty notice and reliance on tax consultant’s actions.
ITAT Ahmedabad ruled against penalty under 270A for misreporting income, citing correct filing and tax payment after notice. Case details.
ITAT Pune remands penalty case, citing pending quantum appeal before CIT(A). Decision on under-reporting penalty deferred.
ITAT Pune held that penalty under section 270A is not leviable since neither the assessment order nor the notice issued u/sec.274 r.w.s.270A the Assessing Officer has specified the limb under which the case of the assessee falls.
ITAT Delhi held that interest and penalty due to default in payment of license fee is merely compensatory in nature and hence the same is revenue expenditure. Accordingly, PCIT classifying them to be capital expenditure is not sustainable.
ITAT Jaipur held that reasons recorded for selecting case for scrutiny never mentioned that case was selected for limited scrutiny hence approval for conversion not required. Matter remanded to CIT(A) to decide case based on merits.
Bombay High Court held that order passed without granting an opportunity of being heard is passed against the principles of natural justice and accordingly, is liable to be quashed. Thus, petition is allowed and orders are quashed.
Delhi High Court held that Section 260A of the Income Tax Act refrains from incorporating a specific provision permitting the filing of a cross-objection. Thus, cross objection would not be maintainable.
ITAT Ahmedabad held that penalty u/s.271AA of the Income Tax Act cannot be levied without specifying the required documents failed to be maintained/furnished by the assessee. Thus, appeal of the revenue dismissed.
