section 271(1)(c)

Penalties & Prosecutions Under Income tax Act, 1961

Income Tax - Penalties and Prosecutions Default in complying with provisions of or with conditions prescribed under the Income-tax Act would attract certain penalty and in critical cases prosecutions as well. The document will provide you information about the punishable offences, prosecutions and the quantum of penalties that can be imposed under the...

Read More

Power of Commissioner to Reduce or Waive Income Tax Penalty

Income Tax - In the Article 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, the Income-tax Act also designed provisions empowering the Principal Commissioner of Income-tax or Commissioner of Income-tax to grant relief from p...

Read More

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 or lower than market prices with one or more associated entity...

Read More

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....

Read More

Prosecutions and Punishment under Income-Tax Act, 1961

Income Tax - In Addition to penalty for various defaults, the Income-tax Act,1961 also contains provisions for launching prosecution proceedings against the taxpayers for various offences. This Article explains about the various provisions relating to prosecution which can be launched under the Income-tax Act,...

Read More

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...

Read More

Penalty cannot be levied in respect of an addition not having been made in quantum assessment

JRK Auto Parts (P) Ltd. Vs ACIT (ITAT Delhi) - In this Question arose for consideration was whether penalty under section 271(1)(c) of Income Tax Act, 1961 could be levied in respect of an addition not having been made in quantum/assessment proceedings and it was held that Imposition of penalty proceedings under section 271(1)(c) is strictly cir...

Read More

Penalty cannot be levied on a basis other than what it was in Quantum Appeal

Indermal Manaji Vs. The Commissioner of Income Tax (Bombay High Court) - S. 271(1)(c): If the basis on which penalty is initiated by the AO and the basis on which the quantum is confirmed on merits by the Tribunal are different, penalty cannot be levied ...

Read More

No Penalty- When deeming provisions are applied for assessing income

Pr. CIT Vs. M/S Hariom Steels (P) Ltd. (Allahabad High Court) - Hon'ble Allahabad High Court has in the case of Hariom Steels Pvt Ltd has held that penalty cannot be levied when deeming provisions are applied for assessing income....

Read More

In absence of communication of interest on IT Refund no penalty for not offering the same for tax

M/s Subhash Chander Sewa Vs Income Tax Officer (ITAT Amritsar) - Admittedly there is a mistake committed by the assessee in not adding interest on the refund to his sources of income. There is no disputing the fact that the tax payer duly and diligently must necessarily in its return of income disclose all avenues of his income. The assessee in its defence has co...

Read More

Mere Rejection of a Claim would not attract Penalty

Commissioner of Income Tax-Vododara-2 Vs ORG Informatics Limited (Gujarat High Court at Ahmedabad) - The Department further initiated penalty proceedings against the assessee under section 271(1)(c) of the Income Tax Act on ground that the assessee failed to offer explanation for making such a claim. It was noted that once the claim was rejected the onus was on the assessee to dislodge the revertib...

Read More
Sorry No Post Found

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

Penalties & Prosecutions Under Income tax Act, 1961

Penalties and Prosecutions Default in complying with provisions of or with conditions prescribed under the Income-tax Act would attract certain penalty and in critical cases prosecutions as well. The document will provide you information about the punishable offences, prosecutions and the quantum of penalties that can be imposed under the...

Read More
Posted Under: Income Tax |

Penalty cannot be levied in respect of an addition not having been made in quantum assessment

JRK Auto Parts (P) Ltd. Vs ACIT (ITAT Delhi)

In this Question arose for consideration was whether penalty under section 271(1)(c) of Income Tax Act, 1961 could be levied in respect of an addition not having been made in quantum/assessment proceedings and it was held that Imposition of penalty proceedings under section 271(1)(c) is strictly circumscribed to addition which has been ma...

Read More

Penalty cannot be levied on a basis other than what it was in Quantum Appeal

Indermal Manaji Vs. The Commissioner of Income Tax (Bombay High Court)

S. 271(1)(c): If the basis on which penalty is initiated by the AO and the basis on which the quantum is confirmed on merits by the Tribunal are different, penalty cannot be levied ...

Read More

No Penalty- When deeming provisions are applied for assessing income

Pr. CIT Vs. M/S Hariom Steels (P) Ltd. (Allahabad High Court)

Hon'ble Allahabad High Court has in the case of Hariom Steels Pvt Ltd has held that penalty cannot be levied when deeming provisions are applied for assessing income....

Read More

In absence of communication of interest on IT Refund no penalty for not offering the same for tax

M/s Subhash Chander Sewa Vs Income Tax Officer (ITAT Amritsar)

Admittedly there is a mistake committed by the assessee in not adding interest on the refund to his sources of income. There is no disputing the fact that the tax payer duly and diligently must necessarily in its return of income disclose all avenues of his income. The assessee in its defence has consistently maintained […]...

Read More

Mere Rejection of a Claim would not attract Penalty

Commissioner of Income Tax-Vododara-2 Vs ORG Informatics Limited (Gujarat High Court at Ahmedabad)

The Department further initiated penalty proceedings against the assessee under section 271(1)(c) of the Income Tax Act on ground that the assessee failed to offer explanation for making such a claim. It was noted that once the claim was rejected the onus was on the assessee to dislodge the revertible presumption of the claim of concealme...

Read More

No S. 271(1)(c) penalty unless there is evidence beyond doubt of concealment

DDIT Vs M/s. Metapath Software International Ltd, (ITAT Delhi)

It is an well established proposition of law that being penal in nature, the provisions of section 271(1)(c) of the Act are invoked only when there is evidence beyond doubt that there was concealment of particulars of income or furnishing inaccurate particulars thereof on the part of the assessee towards the tax alleged to be evaded....

Read More

No Penalty on Income bonafidely disclosed during Scrutiny

Kalwa Bhasker, Vs ACIT (ITAT Hyderabad)

In the present case, the assessee has disclosed all the particulars before completion of the assessment u/s 143(3), though the details were filed in the scrutiny proceeding. ...

Read More

Failure to specify exact charge in section 274 notice makes it invalid

Jehangir HC Jehangir Vs ACIT (ITAT Mumbai)

Notice issued under Section 274 must reveal application of mind by the Assessing Officer and the assessee must be aware of the exact charge on which he had to file his explanation. It was further observed that vagueness and ambiguity in the notice deprives the assessee of reasonable opportunity to contest the same. ...

Read More

HC on non-striking off of irrelevant clause in Section 271(1)(c) penalty SCN

Meherjee Cassinath Holdings Private Limited Vs ACIT (ITAT Mumbai)

In the notice issued u/s 274 r.w.s. 271(1)(c) of the Act of even date, both the limbs of Sec. 271(1)(c) of the Act are reproduced in the proforma notice and the irrelevant clause has not been struck-off...

Read More
Page 1 of 3012345...102030...Last »

Browse All Categories

CA, CS, CMA (3,480)
Company Law (3,398)
Custom Duty (6,601)
DGFT (3,446)
Excise Duty (4,043)
Fema / RBI (3,249)
Finance (3,453)
Income Tax (25,012)
SEBI (2,733)
Service Tax (3,280)

Search Posts by Date

September 2017
M T W T F S S
« Aug    
 123
45678910
11121314151617
18192021222324
252627282930