Income Tax : This guide explains the penalty and prosecution framework under the Income-tax Act for AY 2026-27. It highlights the consequences ...
Income Tax : This guide explains when penalties can be imposed under various provisions of the Income-tax Act, 1961. It also outlines the appli...
Income Tax : The article explains how offences such as wilful tax evasion, failure to file returns, non-payment of TDS/TCS, falsification of re...
Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Income Tax : This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine c...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : The Chennai ITAT held that deductions approved by DSIR under Section 35(2AB) cannot be disallowed merely on the basis of survey st...
Income Tax : The ITAT Bangalore held that cash received as part of sale consideration for immovable property does not automatically attract pen...
Income Tax : The issue was whether penalties under sections 271D and 271E apply to cash dealings of a credit society with its members. ITAT hel...
Income Tax : The issue involved reassessment completed without a reply to the reopening notice. The Court set aside the orders and remanded the...
This guide explains the penalty and prosecution framework under the Income-tax Act for AY 2026-27. It highlights the consequences of tax defaults ranging from monetary penalties to imprisonment for serious violations.
ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft under Section 144C.
This guide explains when penalties can be imposed under various provisions of the Income-tax Act, 1961. It also outlines the applicable penalty amounts for different types of tax defaults and compliance failures.
The article explains how offences such as wilful tax evasion, failure to file returns, non-payment of TDS/TCS, falsification of records, and non-compliance with tax notices can trigger prosecution under the Income-tax Act.
This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment of TDS/TCS, and furnishing false statements. It also highlights exceptions and safeguards available in certain situations.
This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine cases. It highlights the conditions, procedures, and limitations governing relief under Sections 273A and 273AA.
This article outlines major penalties under the Income-tax Act for defaults involving tax payments, return filing, TDS compliance, and record maintenance. It highlights the circumstances that attract penalties and the relief available in deserving cases.
The Chennai ITAT held that deductions approved by DSIR under Section 35(2AB) cannot be disallowed merely on the basis of survey statements or AO findings. The Tribunal ruled that the AO and DRP exceeded their jurisdiction by questioning deductions already certified in Form 3CL.
The ITAT Bangalore held that cash received as part of sale consideration for immovable property does not automatically attract penalty under Section 271D if reasonable cause is established under Section 273B.
The issue was whether penalties under sections 271D and 271E apply to cash dealings of a credit society with its members. ITAT held that genuine, audited member transactions supported by reasonable cause are protected under section 273B.
