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 Tribunal held that penalty was not justified where all relevant facts were disclosed in the return of income, audit report, an...
Income Tax : The Delhi ITAT upheld deletion of a penalty after finding that the show-cause notice failed to specify the applicable limb of Sect...
Income Tax : ITAT Ahmedabad held that unsecured loan additions could not be sustained where the assessee furnished confirmations, bank statemen...
Income Tax : The Bangalore ITAT held that a disallowance under Section 14A read with Rule 8D cannot survive without the Assessing Officer recor...
Income Tax : The Tribunal found no distinguishing factors between the assessee and another liquor trader whose GP rate of 3.13% had been accept...
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...
An in-depth analysis of the ITAT Delhi’s order in the case Poonam C/o Sanjeev Anand vs ITO, focusing on the significance of the ruling that assessees should be given a chance to establish non-receipt of statutory notices.
Analysis of ITAT Chennai decision on V.S.J. Marketing Pvt. Vs DCIT. ITAT upholds penalty for failure to furnish Return of Income as concealment of income.
ITAT Kolkata held that TPO failed to demonstrate that royalty payment by assessee to Associated Enterprises (AEs) is embedded in the process of the imported goods. Accordingly, upward adjustment thereon unsustainable.
ITAT Bangalore held that payments received towards interconnectivity utility charges from Indian customers / end users cannot be considered as Royalty to be brought to tax in India under section 9(1)(vi) of the Income Tax Act and also as per DTAA.
ITAT Kolkata held that disallowance of loss claimed by the assessee under section 41 of the Income Tax Act in a hypothetical way is unjustified and accordingly matter set aside for afresh examination.
ITAT Bangalore held that in case of non-resident, income arising in India by way of royalties or technical charges could be taxed in India but that could be only on the receipt basis under India-Switzerland DTAA and not on accrual basis.
DCIT Vs Milan Kavinchandra Parikh (ITAT Mumbai) Introduction: The Income Tax Appellate Tribunal (ITAT) Mumbai recently delivered a pivotal judgment in the case between the Deputy Commissioner of Income Tax (DCIT) and Milan Kavinchandra Parikh. The judgment raises key questions surrounding the jurisdiction of penalties levied under section 271(1)(c) of the Income Tax Act, 1961. This […]
ITAT Amritsar held that initiation of Assessment Proceedings u/s 153C, instead of section 153A, in case of the searched assessee makes the entire assessment invalid. Accordingly, penalty levied u/s 271(1)(c) is not maintainable.
Analyzing the recent ITAT Jaipur ruling on Safiq Ahmad Vs ITO. Assessee penalized for failing to cooperate in penalty proceedings under Sections 271B & 271(1)(c) of the Act.
ITAT Ahmedabad held that payment of cash towards purchase of land exceeding the prescribed limit is duly disallowed under section 40A(3) of the Income Tax Act.
