section 271(1)(c)

Assessee was entitled to relief on the certificate granted by the prescribed authority u/s 35(1)(ii) of the Act to the institution to which it donated the sum of money for claiming deduction under that section if it was subsisting and valid at the time the donation was made....

Since additions have been deleted, the very foundation to visit assessee with penalty does not survive. Hence, no penalty is imposable upon assessee...

ACIT Vs Amit Tiwari (ITAT Indore) The submissions of the assessee are that penalty proceedings u/s 271AAB as initiated is bad in law on account of firstly penalty notice so issued is defective as it does not disclose specific charge and secondly there is no concealed income as search took place prior to due date […]...

It is not in dispute that the assessee accounted for provision of interest twice by mistake and on realising such mistake, necessary rectification entries were passed in the subsequent year and the same was offered as income....

Additions made on ad-hoc basis on estimation does not attract penalty under section 271(1)(c) of the Act as there is no conclusive proof of concealment of income or furnishing of inaccurate particulars of income. ...

Madhya Pradesh High Court held that penalty u/s 271(1)(c) of the Income Tax Act not leviable in absence of deliberate intention to either conceal income or to furnish inaccurate particulars...

ITAT Delhi held that penalty under section 271(1)(c) of the Income Tax Act unsustainable as claim of deduction u/s. 80IA(4) already decided in favour of the assessee....

CIT Vs S. Kumar Tyres Manufacturing Co. Ltd. (Madhya Pradesh High Court) Sub-Whether there can be any penalty u/s 271(1)(c) in respect of a debatable issue? The Division bench of Madhya Pradesh High Court was considering department’s appeal when ITAT had given relief to the assessee by holding that there could not have been penalty [&he...

Bhawneshwar Kumar Vs ITO (ITAT Chandigarh) In the instant case, the matter relates to claim of interest paid by the assessee to the partnership firm where the assessee is a partner and from where the assessee also draws the remuneration. Both the interest paid and remuneration received from the partnership firm has been duly reflected [&h...

Jubilant Infrastructure Ltd Vs DCIT (ITAT Delhi) The disallowance of depreciation in quantum proceedings in A.Y.2016-17 has also resulted in corresponding enhancement of deduction under section 80IAB by the equal amount. The AO has also allowed the enhanced deduction in the quantum and, therefore, no prejudice was caused to the revenue by...