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Section 271A

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A Critical Appreciation of Ranchi Bench of ITAT in Rakesh Kr. Jha vs. ITO

Income Tax : Explore recent ITAT judgment in Rakesh Kr. Jha vs. ITO, delving into interpretation of Sections 271A and 271B, highlighting confli...

November 29, 2023 1527 Views 0 comment Print

Penalties and Prosecutions Under Income tax Act, 1961

Income Tax : Learn about the penalties and prosecutions under the Income Tax Act of 1961 for various defaults and offenses. Find out the fines ...

July 25, 2023 484554 Views 4 comments Print

Prosecutions and Punishment under Income Tax Act, 1961

Income Tax : Apart from penalty for various defaults, the Income-tax Act also contains provisions for launching prosecution proceedings against...

June 11, 2022 47121 Views 7 comments Print

Income Tax Offences liable to prosecution

Income Tax : Apart from levy of penalty for various defaults by the taxpayer, the Income-tax Law also contains provisions for launching prosecu...

June 8, 2022 57095 Views 4 comments Print

Power of Commissioner to Reduce or Waive Income Tax Penalty

Income Tax : In the tutorial on Penalties Under the Income-tax Act, we discussed various penalties imposable under the Income-tax Act in respec...

June 8, 2022 62152 Views 2 comments Print


Latest Judiciary


Section 270A(9)(a) Penalty Cannot be Levied for Adhoc Disallowance of Expenditure

Income Tax : VDB Infra vs. ITO: ITAT Bangalore case involves TDS deduction dispute resulting in penalty deletion under Section 270A(9)(a) by th...

March 27, 2024 1542 Views 0 comment Print

No Penalty under Section 271B if Penalty Already Levied under Section 271A

Income Tax : Mumbai ITAT sets aside penalty under section 271B, citing previous penalty under section 271A for non-maintenance of accounts in H...

March 20, 2024 531 Views 0 comment Print

Kerala HC Orders IT Dept to Review Stay Petition on Sec 271A Penalty Proceedings

Income Tax : Kerala High Court directs Income Tax Department to consider stay petition in penalty proceedings initiated under Section 271A agai...

February 22, 2024 597 Views 0 comment Print

Loss or low profit cannot be reason for exclusion of comparables for computing ALP: ITAT Mumbai

Income Tax : ITAT Mumbai held that exclusion of comparables for the reason that those companies are loss making or low profit making is not cor...

February 15, 2024 288 Views 0 comment Print

ITAT delete Section 271A Penalty: AO Fails to Prove Appellant’s Business Mandating Books under Section 44AA

Income Tax : Read the detailed analysis of Amey Pravinbhai Brahmbhatt Vs ITO case where ITAT Ahmedabad deleted the penalty under section 271A f...

February 2, 2024 660 Views 0 comment Print


Latest Posts in Section 271A

Section 270A(9)(a) Penalty Cannot be Levied for Adhoc Disallowance of Expenditure

March 27, 2024 1542 Views 0 comment Print

VDB Infra vs. ITO: ITAT Bangalore case involves TDS deduction dispute resulting in penalty deletion under Section 270A(9)(a) by the tribunal.

No Penalty under Section 271B if Penalty Already Levied under Section 271A

March 20, 2024 531 Views 0 comment Print

Mumbai ITAT sets aside penalty under section 271B, citing previous penalty under section 271A for non-maintenance of accounts in Haresh Ghanshyamdas Makhija vs ITO case.

Kerala HC Orders IT Dept to Review Stay Petition on Sec 271A Penalty Proceedings

February 22, 2024 597 Views 0 comment Print

Kerala High Court directs Income Tax Department to consider stay petition in penalty proceedings initiated under Section 271A against Wexco Homes Pvt Ltd.

Loss or low profit cannot be reason for exclusion of comparables for computing ALP: ITAT Mumbai

February 15, 2024 288 Views 0 comment Print

ITAT Mumbai held that exclusion of comparables for the reason that those companies are loss making or low profit making is not correct. Accordingly, TPO directed to include these comparables and re-compute the Arm’s Length Price (ALP).

ITAT delete Section 271A Penalty: AO Fails to Prove Appellant’s Business Mandating Books under Section 44AA

February 2, 2024 660 Views 0 comment Print

Read the detailed analysis of Amey Pravinbhai Brahmbhatt Vs ITO case where ITAT Ahmedabad deleted the penalty under section 271A for failure to fulfill conditions u/s 44 AA of Income Tax Act.

A Critical Appreciation of Ranchi Bench of ITAT in Rakesh Kr. Jha vs. ITO

November 29, 2023 1527 Views 0 comment Print

Explore recent ITAT judgment in Rakesh Kr. Jha vs. ITO, delving into interpretation of Sections 271A and 271B, highlighting conflicting views among High Courts.

Section 40A(2)(b) Disallowance for Assumed Higher Sub-contracting Income is unsustainable

November 1, 2023 990 Views 0 comment Print

ITAT Delhi held that disallowance under section 40A(2)(b) of the Income Tax Act on merely estimating that more income should have been earned from sub-contracting without bringing any comparable figures is unsustainable in law.

Section 271B penalty not attracted if no books of account been maintained

September 29, 2023 1128 Views 0 comment Print

ITAT Mumbai ruling on penalty u/s.271B for non-maintenance of books of accounts by an assessee engaged in trading, financing, realty, and commodities business. Analysis of Varadagovind Parthasarthy Iyer vs ITO case.

Cash Payment exceeding prescribed limit towards purchase of land disallowed as per section 40A(3)

September 4, 2023 1593 Views 0 comment Print

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.

ITAT Upholds Penalties u/s 271A & 271B for Bookkeeping & Tax Audit Lapses

August 17, 2023 7773 Views 3 comments Print

Read analysis of ITAT judgment in Saraswati Gupta vs. ITO case confirming penalties under sections 271A and 271B for not maintaining and auditing books of account. Learn about the outcome and reasoning.

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