section 271(1)(c)

No penalty u/s 271(1)(c) when returned income accepted filed in response to notice u/s 148

Income Tax - In the case of the assessee at present no finding was recorded in the assessment order that there was concealment of income.The assessee has not furnished inaccurate particulars of its income.True income of the assesseee was declared in the return filed by the assessee after issue of the notice u/ s 148 of the act . And the case of the as...

Read More

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....

Read More

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....

Read More

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....

Read More

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...

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

No section 271(1)(c) penalty on mere making of unsustainable claim

Tecnotree Convergence Ltd. [now Tecnotree Convergence Private Limited] Vs DCIT (ITAT Bangalore) - Penalty under section 271(1)(c) was not leviable as mere making of a claim which was not sustainable in law, by itself, would not amount to furnishing inaccurate particulars regarding the income of assessee....

Read More

No penalty unless there was conscious concealment or furnishing of inaccurate particulars of income.

R.S. Tradelink Pvt. Ltd. Vs ACIT (ITAT Surat) - Penalty under section 271(1)(c) was not leviable as  AO was not certain that for which limb he wanted to initiate penalty proceedings, that is, for concealment of income or for furnishing inaccurate particulars of income. AO initiated penalty proceedings on one footing and concluded on other footin...

Read More

Section 271(1)(c) penalty not sustainable if notice not specifies limb for levy of penalty

DCIT Vs Scooters India Ltd. (ITAT Lucknow) - It is a settled position of law that if notice under section 274 read with 271(1)(c) is not specific about the charge or limb under which penalty is being levied under section 271(1)(c) of the Act, then any penalty levied on the basis of such notice is bad in law and liable to be deleted....

Read More

Section 271(1)(c) penalty not leviable when AO levied penalty under both charges

ITO Vs Shri Udaykumar D. Bhatt (ITAT Ahmedabad) - ITO Vs Shri Udaykumar D. Bhatt (ITAT Ahmedabad) Section 271(1)(c) cast responsibility upon the AO to reach the clear finding with respect to levy of penalty under the specific charge and if the AO fails to do so then the penalty cannot be levied as such penalty order shall not be maintainable in the...

Read More

No section 271(1)(c) penalty for Mere claim of wrong deduction

PCIT Vs Sonu Realtors Private Limited (Bombay High Court) - PCIT Vs Sonu Realtors Private Limited (Bombay High Court) Wrong deduction claimed which resulted in reduction of Tax liability can’t amount to concealment of income Pr. Commissioner of Income Tax  (Appellant) filed the appeal being aggrieved against Order dated July 20, 2016 passed by Income Tax ...

Read More

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...

Read More

section 271(1)(c)’s Popular Posts

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

No section 271(1)(c) penalty on mere making of unsustainable claim

Tecnotree Convergence Ltd. [now Tecnotree Convergence Private Limited] Vs DCIT (ITAT Bangalore)

Penalty under section 271(1)(c) was not leviable as mere making of a claim which was not sustainable in law, by itself, would not amount to furnishing inaccurate particulars regarding the income of assessee....

Read More

No penalty unless there was conscious concealment or furnishing of inaccurate particulars of income.

R.S. Tradelink Pvt. Ltd. Vs ACIT (ITAT Surat)

Penalty under section 271(1)(c) was not leviable as  AO was not certain that for which limb he wanted to initiate penalty proceedings, that is, for concealment of income or for furnishing inaccurate particulars of income. AO initiated penalty proceedings on one footing and concluded on other footing, therefore, the basis of levy of penal...

Read More

Section 271(1)(c) penalty not sustainable if notice not specifies limb for levy of penalty

DCIT Vs Scooters India Ltd. (ITAT Lucknow)

It is a settled position of law that if notice under section 274 read with 271(1)(c) is not specific about the charge or limb under which penalty is being levied under section 271(1)(c) of the Act, then any penalty levied on the basis of such notice is bad in law and liable to be deleted....

Read More

Section 271(1)(c) penalty not leviable when AO levied penalty under both charges

ITO Vs Shri Udaykumar D. Bhatt (ITAT Ahmedabad)

ITO Vs Shri Udaykumar D. Bhatt (ITAT Ahmedabad) Section 271(1)(c) cast responsibility upon the AO to reach the clear finding with respect to levy of penalty under the specific charge and if the AO fails to do so then the penalty cannot be levied as such penalty order shall not be maintainable in the eyes […]...

Read More

No section 271(1)(c) penalty for Mere claim of wrong deduction

PCIT Vs Sonu Realtors Private Limited (Bombay High Court)

PCIT Vs Sonu Realtors Private Limited (Bombay High Court) Wrong deduction claimed which resulted in reduction of Tax liability can’t amount to concealment of income Pr. Commissioner of Income Tax  (Appellant) filed the appeal being aggrieved against Order dated July 20, 2016 passed by Income Tax Appellate Tribunal (ITAT) in which the o...

Read More

Penalty not sustainable if AO dropped penalty in earlier AY on same set of facts

Action Construction Equipment Ltd. Vs DCIT (ITAT Delhi)

Action Construction Equipment Ltd. Vs DCIT (ITAT Delhi) The Assessing Officer has not given any reason as to why he dropped the penalty in Assessment Year 2010-11 and sustained the imposition of penalty for Assessment Year (AY) 2009-­10 under the same set of facts. Moreover, in the impugned penalty order, the Assessing Officer has stated...

Read More

ITAT quashes Rs 57 lakh fine on Preity Zinta

DCIT Vs Preity Zinta (ITAT Mumbai)

Examining the present case on the anvil of aforesaid case law, we find that the notice in this also is an omnibus show-cause notice as it does not strike off/delete the inappropriate/irrelevant/not applicable portion. Such a generic notice betrays a non-application of mind. Hence, the penalty levied pursuant to such a notice is not legall...

Read More

No section 271(1)(c) penalty if notice was vague & ambiguous

Addl. CIT Vs Airports Authority of India (ITAT Delhi)

Addl. CIT Vs Airports Authority of India (ITAT Delhi) Perusal of the order passed by the ld. CIT (A) shows that the ld. CIT(A) deleted the penalty on two grounds : (i) that no valid notice u/s 274 of the Act has been issued to the assessee so as to inform the assessee as to […]...

Read More

No penalty for preferring a claim which is unacceptable to Revenue

HCL Technologies Ltd. Vs DCIT (ITAT Delhi)

HCL Technologies Ltd. Vs DCIT (ITAT Delhi) Levy of penalty in this case is unsustainable because mere preferring a claim which is unacceptable to the Revenue does not ipso facto lead to levy of penalty. Here in this case, Form No. 56F duly signed by the Chartered Accountant justifies the plea of bona fide belief […]...

Read More

No penalty u/s 271(1)(c) when returned income accepted filed in response to notice u/s 148

In the case of the assessee at present no finding was recorded in the assessment order that there was concealment of income.The assessee has not furnished inaccurate particulars of its income.True income of the assesseee was declared in the return filed by the assessee after issue of the notice u/ s 148 of the act . And the case of the as...

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (5,807)
Company Law (7,811)
Custom Duty (8,842)
DGFT (4,671)
Excise Duty (4,562)
Fema / RBI (4,901)
Finance (5,283)
Income Tax (38,962)
SEBI (4,219)
Service Tax (3,821)

Search Posts by Date

December 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031