Income Tax : The Tribunal held that penalty under section 271(1)(c) cannot be imposed when errors are voluntarily corrected during assessment. ...
Income Tax : A summary of key penalties under the Income Tax Act for AY 2026-27, covering defaults from late filing and non-payment to misrepor...
Income Tax : ITAT Delhi held penalty u/s 271(1)(c) unsustainable as 54F exemption failed due to builder delay, not taxpayer’s fault. Full dis...
Income Tax : Understand why an income-tax penalty under Section 271(1)(c) is invalid if the charge isn't specified as concealment or inaccurate...
Income Tax : Learn how taxpayers can defer income tax penalty proceedings when quantum additions are under appeal. Understand legal grounds and...
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 : The case addressed ambiguity in penalty proceedings where the specific charge was not identified. The Court upheld deletion of pen...
Income Tax : The case involved an ambiguous penalty notice that did not clarify whether the charge was concealment or inaccurate particulars. T...
Income Tax : The case involved penalty on disallowance of purchases treated as non-genuine and estimated at 12.5%. Tribunal ruled that estimate...
Income Tax : ITAT Mumbai remanded ₹95.81 lakh commission disallowance, holding that non-response to Section 133(6) notices alone cannot justi...
Income Tax : ITAT Mumbai held that CIT(A) cannot enhance income by introducing a new issue not examined by the Assessing Officer. The ruling cl...
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 held that penalty under Section 271(1)(c) cannot survive when the underlying addition is remanded, directing the AO to re-decide the penalty after the quantum order is finalized.
ITAT held that most jewellery seized during a search could be accounted for from declared drawings and past income, reducing addition to ₹72.45 lakh. Ruling emphasizes that unexplained investment must be proven in relevant assessment year.
With all Section 68 additions deleted across the three years, the basis for penalties under Section 271(1)(c) disappeared. The Tribunal directed complete removal of penalties, highlighting that concealment cannot be presumed when additions themselves lack merit. The ruling reinforces the principle that penalty proceedings cannot survive defective assessments.
The Tribunal reduced commission estimations for sale/purchase and loan entries to 0.40% and 0.50%, excluding intra-group transactions. This ensures compliance with judicial precedents and prevents arbitrary income additions.
ITAT Jaipur clarified that penalty under section 271AAB is not mandatory and requires proper examination of evidence and explanation by the assessee before imposition. Mere surrender of income does not constitute undisclosed income.
The Tribunal held that notices sent to an incorrect email constituted a valid reason for delay, restored the matter to the AO, and emphasized the need for fair opportunity. Key takeaway: technical lapses in service cannot defeat substantive justice.
The Tribunal held that the incorrect carry-forward loss claim arose from an inadvertent mistake and was not deliberate. The penalty was deleted after noting absence of concealment or inaccurate particulars.
The Tribunal held that reopening was invalid as the sanctioning authority recorded only a one-word approval. Key takeaway: Mechanical approval without reasoning vitiates jurisdiction under Section 147.
ITAT Ahmedabad held that reassessment under Section 147 cannot be based on vague or unverified information; specific transactions must be identified to justify additions.
The Tribunal held that the CIT(A) erred by dismissing the penalty appeal solely due to VSVS settlement of interest, without adjudicating the depreciation-related penalty. Key takeaway: all grounds must be decided on merits even when only part of the quantum is settled.
