section 271(1)(c)

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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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 prosecution for offences committed by the taxpayer. In this part you can gain knowledge about offences in respect of which prosecutions can be launched under the Income-tax Law....

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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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Penalties under 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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Section 271(1)(c) Notice should clearly specify charge of Penalty

ITO Vs Shri Bimal Talukdar (ITAT Guwahati) - ITO Vs Shri Bimal Talukdar (ITAT Guwahati) The issue under consideration is whether the penalty proceeding u/s 271(1)(c) initiated by the AO sustain Under Income Tax Law? In the present case, the ITAT earlier had allowed the appeal of the assessee and cancelled the penalty levied u/s. 271(1)(c) of t...

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No section 271(1)(c) Penalty for mere claim of expense under different income head

DCIT Vs Metro Tyres Pvt. Ltd. (ITAT Delhi) - The issue under consideration is whether the AO is correct in levying penalty u/s 271(1)(c) merely because the assessee claimed expenditure under a different head of income?...

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Penalty cannot be levied for making a claim which may be erroneous or wrong

Ventura Textiles Ltd. Vs CIT (Bombay High Court) - The issue under consideration is whether the levy of penalty u/s.271(1)(c) of the Act is justified in law for for making a claim which may be erroneous or wrong ?...

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Addition on estimate basis – Section 271(1)(c) cannot be imposed

Samatbhai Malabhai Parmar Vs ITO (ITAT Rajkot) - It is a settled principle of law that where addition to assessee’s income is made on estimate basis penalty under section 271(1)(c) cannot be imposed....

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No Section 271AAB Penalty on Income voluntarily admitted during Search

Ajanta Pharma Limited Vs DCIT (ITAT Mumbai) - The issue under consideration is whether the penalty levied u/s 271AAB of the Act is justified on Income voluntarily admitted during Search by Appellant?...

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Immunity under Section 270AA of Income-tax Act, 1961- CBDT Clarifies

Circular No 5/2018-Income Tax - (16/08/2018) - Section 270AA of the Income-tax Act, 1961 (the Act) inter alia provides that w.e.f. 1 st April, 2017, the Assessing Officer, on an application made by an assessee, may grant immunity from imposition of penalty under section 270A (not being penalty for misreporting) and initiation of proceedings unde...

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

Section 271(1)(c) Notice should clearly specify charge of Penalty

ITO Vs Shri Bimal Talukdar (ITAT Guwahati)

ITO Vs Shri Bimal Talukdar (ITAT Guwahati) The issue under consideration is whether the penalty proceeding u/s 271(1)(c) initiated by the AO sustain Under Income Tax Law? In the present case, the ITAT earlier had allowed the appeal of the assessee and cancelled the penalty levied u/s. 271(1)(c) of the Act by taking note of […]...

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No section 271(1)(c) Penalty for mere claim of expense under different income head

DCIT Vs Metro Tyres Pvt. Ltd. (ITAT Delhi)

The issue under consideration is whether the AO is correct in levying penalty u/s 271(1)(c) merely because the assessee claimed expenditure under a different head of income?...

Read More

Penalty cannot be levied for making a claim which may be erroneous or wrong

Ventura Textiles Ltd. Vs CIT (Bombay High Court)

The issue under consideration is whether the levy of penalty u/s.271(1)(c) of the Act is justified in law for for making a claim which may be erroneous or wrong ?...

Read More

Addition on estimate basis – Section 271(1)(c) cannot be imposed

Samatbhai Malabhai Parmar Vs ITO (ITAT Rajkot)

It is a settled principle of law that where addition to assessee’s income is made on estimate basis penalty under section 271(1)(c) cannot be imposed....

Read More

No Section 271AAB Penalty on Income voluntarily admitted during Search

Ajanta Pharma Limited Vs DCIT (ITAT Mumbai)

The issue under consideration is whether the penalty levied u/s 271AAB of the Act is justified on Income voluntarily admitted during Search by Appellant?...

Read More

No penalty for mere upheld of additions by CIT (A)

PCIT Vs Junjab National Bank (Delhi High Court)

PCIT Vs Junjab National Bank (Delhi High Court)  Merely because additions made by the Assessing Officer have been partially upheld by the CIT (A), would not confer the ground to initiate proceedings under Section 271(1)(c) of the Act of imposition of penalty, unless it is found that there is concealment of material facts, or furnishing [...

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Prosecutions and Punishment under Income Tax Act, 1961

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....

Read More
Posted Under: Income Tax |

Income Tax Offences liable to prosecution

Apart from levy of penalty for various defaults by the taxpayer, the Income-tax Law also contains provisions for launching prosecution for offences committed by the taxpayer. In this part you can gain knowledge about offences in respect of which prosecutions can be launched under the Income-tax Law....

Read More
Posted Under: Income Tax | ,

Power of Commissioner to Reduce or Waive Income Tax Penalty

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...

Read More
Posted Under: Income Tax | ,

Penalties under Income-Tax Act, 1961

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....

Read More
Posted Under: Income Tax | ,

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