Income Tax : Discover the implications of Income Tax Act Section 270A and penalties for under-reporting or misreporting income. Learn calculati...
Income Tax : Grounds of Appeal related to the penalty imposed u/s 271(1)(c) of the Act , 1961 AY 2015-16 1. In the facts and circumstances of t...
Income Tax : Learn about the penalties and prosecutions under the Income Tax Act of 1961 for various defaults and offenses. Find out the fines ...
Income Tax : Apart from penalty for various defaults, the Income-tax Act also contains provisions for launching prosecution proceedings against...
Income Tax : Apart from levy of penalty for various defaults by the taxpayer, the Income-tax Law also contains provisions for launching prosecu...
Income Tax : The Committee recommends that the scope of Section 273B should be suitably enlarged to provide that penalty for concealment of inc...
Income Tax : ITAT Delhi rules in favor of Grey Orange India Pvt. Ltd., allowing income tax deduction on warranty expenses. Detailed analysis of...
Income Tax : ITAT Delhi rules interest income on FDs linked to SEZ business operations is deductible under Section 80IAB. Analysis of Candor Gu...
Income Tax : Delhi High Court judgment on GE Capital vs. DCIT, distinguishing under-reporting and misreporting as separate offenses, resulting ...
Income Tax : Discover the ITAT Bangalore ruling on IBM Canada Limited vs. DCIT, where salary reimbursements of seconded employees were deemed n...
Income Tax : Read the detailed analysis of ITAT Ahmedabad's order canceling penalty under section 271(1)(c) of the Income Tax Act. Co-owner sta...
Income Tax : 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...
ITAT Mumbai held that as the assessee should be aware of the exact charge for which the penalty proceeding has been initiated, non-striking on the irrelevant limb under section 271(1)(c) of the Income Tax Act vitiates the entire penalty proceedings.
Gujarat High Court held that initiation of penalty proceedings u/s 271(1)(c) of the Income Tax Act in the absence of any material to establish the concealing of income or furnishing inaccurate particulars unsustainable-in-law.
Jharkhand High Court held that initiation of prosecution proceedings under section 276CC of the Income Tax Act in absence of any demand, as demand adjusted against refund, is bad-in-law and liable to be set aside.
Mumbai ITAT deletes penalty under section 271(1)(c) of the Income Tax Act on estimated quantum addition based on information from Sales Tax Department. Full text order.
ITAT Pune case Shivaji Dattatray Sonawane vs ITO. Explore why the penalty for inaccuracy can’t be levied if the notice was for concealment.
Understand the condonation of delay imposed by the Delhi High Court in the case of CIT Vs. Standard Chartered Grindlays Pty Ltd. Learn about the penalty imposed and the background of the appeal under Section 271(1)(c) of the Income-tax Act, 1961.
The ITAT Delhi cancels a penalty imposed on Mideast Integrated Steels Ltd. due to an unqualified offense notice. Learn about the case and its implications.
Penalty under section 271(1)(c) was not leviable as there was failure on the part of AO as to which limb of Section 271(1)(c) got attracted for imposition of penalty.
The ITAT in Ahmedabad cancels the penalty under Section 271(1)(c) of the Income Tax Act in Ushaben Chauhan’s case due to non-awareness of tax liability on land sale.
Property renovation cannot be disallowed merely for the reason that no telephone number, VAT/TIN number has been mentioned in the bill and there is no charges of VAT levied in the bill
