#section 271(1)(c)
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1,640 articlesIncome Tax
Income Tax
No Penalty when Quantum addition itself not sustained; No Statutory Obligation to follow FIFO Method for Stock Valuation
Income Tax
Income Tax
Penalty notice without specifying that it is for ‘furnishing of inaccurate particulars of income’ or for ‘concealment of income’ is fatal
Income Tax
Income Tax
SC decision on Omission to explain reason for penalty proceedings
Income Tax
Income Tax
Penalty U/s. 271(1)(c) without finding of AO not justified
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Income Tax
Penalty only on Disproved claim of expenditure & not unproved
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Income Tax
No penalty where assessee relied on professional opinion & there is no tax impact
Income Tax
Income Tax
Retrospective amendment in expl. 5A to Sec 271(1)(c) not applicable if original return filed before Finance Act comes into force
Income Tax
Income Tax
No penalty for not declaring STCG due to bonafide mistake/clerical error
Income Tax
Income Tax
Non mention of specific ground in penalty notice U/s. 274 makes it defective
Income Tax
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S. 274 notice must specify if its for concealment or for incorrect particulars
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Income Tax
Incorrect claim based on CA report won’t attract penalty
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Income Tax
Substantial modification of Quantum order by CIT(A) renders penalty proceedings non-existent
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Income Tax
No penalty for bonafide mistake in claiming both depreciation & deduction U/s. 24(a)
Income Tax
Income Tax
