section 271(1)(c)

Power of Commissioner to Reduce or Waive Income Tax Penalty

Income Tax - In the tutorial on Penalties Under the Income-tax Act, we discussed various penalties imposable under the Income-tax Act in respect of various defaults. Apart from enacting penalty provisions...

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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 the taxpayers for various offences. In this part you can gain knowledge about the various provisions relating to prosecution which can be launched under the Income-tax Act....

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All about Income Tax Offences liable to prosecution

Income Tax - Section 132 empowers the tax authorities to initiate search proceedings at the premises of the taxpayer. During the course of search the tax authorities are also empowered to seize money, bullion, jewellery or other valuable article or thing found from the taxpayer. ...

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Penalties under the Income-Tax Act, 1961

Income Tax - Under the Income-tax Act, penalties are levied for various defaults committed by the taxpayer. Some of the penalties are mandatory and a few are at the discretion of the tax authorities. In this part, you can gain knowledge about the provisions relating to various penalties leviable under the Income-tax Act....

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Specified Domestic Transaction- Penalty for Concealment of Income

Income Tax - The provisions of transfer pricing are designed to keep a check on the practice of reducing the tax liability by entering into transactions at prices higher/lower than market prices with one or more associated entity....

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Easwar Committee Recommends Non-Levy Of Penalty in certain circumstances

Income Tax - The Committee recommends that the scope of Section 273B should be suitably enlarged to provide that penalty for concealment of income or furnishing inaccurate particulars thereof will not be imposed where any addition or disallowance is made without any evidence or in a routine manner or on estimate and in cases where the Assessing Office...

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Concealment of income & furnishing of inaccurate particulars are distinct and separate charge

Sachin Arora Vs. ITO (ITAT Agra) - Where in the assessment order, penalty proceedings have been initiated mentioning a specific charge and in the accompanying notice, the assessee is called upon to furnish his explanation in respect of both the charges, the notice obviously suffers from either non-application of mind or diffidence on...

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Penalty justified on additional income declared after discovery of same by AO

Jyothirmoy Yamsani Vs. DCIT (ITAT Hyderabad) - Jyothirmoy Yamsani Vs. DCIT (ITAT Hyderabad) In the instant case, the assessment order categorically indicates that penalty is leviable on both counts and even penalty order details the nature of default on the part of the assessee, followed by a specific conclusion that the assessee has concealed i...

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Imposition of penalty U/s. 271(1)(c) on defective show cause notice without specifying charge against assessee cannot be sustained

M/s. Swarn Ganga Gold Traders (P) Ltd. Vs. I.T.O. (ITAT Kolkata) - These are appeals by the Assessee against three orders all dated 13.06.2016 of C.I.T.(A)-I, Kolkata relating to A.Y. 2006-07 to 2008-09....

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Non mention of specific ground in penalty notice U/s. 274 makes it defective

DCIT Vs. Shyam Sunder Dhanuka (ITAT Kolkata) - Show cause notice under section 274 not spelling out the specific ground on which penalty under section 271(1)(c) was sought to be imposed, was defective and, therefore, penalty was deleted....

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Penalty Notice u/s 274 is invalid if it do not Specify Charge against Assessee and does not Strike out Inappropriate Words

Shri Amit Kumar Gope Vs. D.C.I.T. (ITAT Kolkata) - The Kolkata bench of ITAT recently held that penalty cannot be levied since show cause notice issued in the present case under Section 274 of the Income Tax Act does not specify the charge against the assessee as to whether it is for concealing particulars of income or furnishing inaccurate particul...

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Recent Posts in "section 271(1)(c)"

Concealment of income & furnishing of inaccurate particulars are distinct and separate charge

Sachin Arora Vs. ITO (ITAT Agra)

Where in the assessment order, penalty proceedings have been initiated mentioning a specific charge and in the accompanying notice, the assessee is called upon to furnish his explanation in respect of both the charges, the notice obviously suffers from either non-application of mind or diffidence on the part of the AO....

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Penalty justified on additional income declared after discovery of same by AO

Jyothirmoy Yamsani Vs. DCIT (ITAT Hyderabad)

Jyothirmoy Yamsani Vs. DCIT (ITAT Hyderabad) In the instant case, the assessment order categorically indicates that penalty is leviable on both counts and even penalty order details the nature of default on the part of the assessee, followed by a specific conclusion that the assessee has concealed income and furnished inaccurate particula...

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Imposition of penalty U/s. 271(1)(c) on defective show cause notice without specifying charge against assessee cannot be sustained

M/s. Swarn Ganga Gold Traders (P) Ltd. Vs. I.T.O. (ITAT Kolkata)

These are appeals by the Assessee against three orders all dated 13.06.2016 of C.I.T.(A)-I, Kolkata relating to A.Y. 2006-07 to 2008-09....

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Non mention of specific ground in penalty notice U/s. 274 makes it defective

DCIT Vs. Shyam Sunder Dhanuka (ITAT Kolkata)

Show cause notice under section 274 not spelling out the specific ground on which penalty under section 271(1)(c) was sought to be imposed, was defective and, therefore, penalty was deleted....

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Penalty Notice u/s 274 is invalid if it do not Specify Charge against Assessee and does not Strike out Inappropriate Words

Shri Amit Kumar Gope Vs. D.C.I.T. (ITAT Kolkata)

The Kolkata bench of ITAT recently held that penalty cannot be levied since show cause notice issued in the present case under Section 274 of the Income Tax Act does not specify the charge against the assessee as to whether it is for concealing particulars of income or furnishing inaccurate particulars of income. ...

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Whether issuance of s. 274 notice is merely an administrative device- Conflicting views of High Courts

Jeetmal Choraria Vs. ACIT (ITAT Kolkata)

Jeetmal Choraria Vs. ACIT (ITAT Kolkata) From the aforesaid discussion it can be seen that the line of reasoning of the Honorable Bombay High Court and the Honorable Patna High Court is that issuance of notice is an administrative device for informing the assessee about the proposal to levy penalty in order to enable him […]...

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Penalty cannot be imposed U/s. 271(1)(c) in absence of recording of satisfaction by AO

Mrs. Indrani Sunil Pillai Vs Asstt. Commissioner of Income Tax (ITAT Mumbai)

Aforesaid appeal by the assessee is against order dated 28th December 2015, passed by the learned Commissioner (Appeals)–37, Mumbai, confirming penalty under section 271(1)(c) of the Income-tax Act, 1961 (for short the Act) for the assessment year 2010–11....

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Penalty cannot be imposed for Bonafide omission during return filing, surfaced during Section 148/148 Assessment

Pankaj Kumar Gupta Vs. ITO (ITAT Lucknow)

In the instant case, nothing is on record to show that there was any malafide intention on the part of the assessee to conceal the income or furnish inaccurate particulars of income and there was an omission while filing the return of income which was rectified through challan on the very date of passing the assessment order. ...

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Mere addition to declared income during assessment proceedings would not ipso facto lead to imposition of penalty

ITO Vs Ramsons Castings (P.) Ltd. (Bombay High Court-Nagpur Bench)

Assessee is not absolved of penalty because the additional income has been declared to buy peace. It must follow therefore that the above strategy (buy peace) by itself will not justify imposition of penalty, unless the requirement of the section under which the penalty is imposed are satisfied....

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No Penalty if income is assessed on estimate basis and addition is made on that basis

Vijaykumar Mavjibhai Dodiya Vs. ITO (ITAT Rajkot)

. The provisions of section 271(1)(c) are not attracted in cases where income of the assessee is assessed on an estimate basis and addition is made on that basis. Even if the assessee is not able to substantiate the explanation, but his explanation is not lacking bona fide, and, therefore, we are of the view that it is not a fit where vig...

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