#section 271(1)(c)
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1,640 articlesIncome Tax
Income Tax
Penalty u/s 271(1)(c) leviable for failure to prove genuineness of exemption u/s 54
Income Tax
Income Tax
No malafide intention no penalty
Income Tax
Income Tax
Voluntarily surrender of income can’t escape penalty if assessee deliberately not shown unaccounted income in return
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Income Tax
TP adjustment for intra group services not sustainable where receipt of services & its benefits are beyond any doubt
Income Tax
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Revised return with same info is furnishing of inaccurate particulars
Income Tax
Income Tax
Levy of Penalty & Factors affecting Levy of Penalty including Nature of Offence, Mens Rea & Bona fide belief
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Income Tax
Penalty Proceedings can’t be initiated in the Absence of Proper Investigation
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Income Tax
If assessee admits undisclosed income, substantiate manner & paid taxes on undisclosed income no penalty u/s 271AAA can be levied
Income Tax
Income Tax
Penalty u/s 271(1)(c) in search assessment is tenable only if some incriminating material found during search
Income Tax
Income Tax
271(1)(c) : Penalty can be imposed on undisclosed bank accounts based on peak credits theory
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271(1)(c) : Penalty cannot be imposed merely because assessee didn’t objected to addition
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When order in quantum has been decided in favour of assessee penalty cannot be levied u/s 271(1)(c)
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Penalty cannot be imposed on preponderance of probabilities
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Income Tax
