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Section 271AA

Latest Articles


Penalties and Prosecutions Under Income tax Act, 1961

Income Tax : Discover penalties and prosecutions under the Income Tax Act, 1961, including default conditions, quantum of penalties, and potent...

September 6, 2024 518100 Views 4 comments Print

FAQs on Penalty provisions under Income Tax Act, 1961

Income Tax : Learn about penalty provisions under the IT Act, including penalties for defaults in tax payment, income reporting, and more. Key ...

August 24, 2024 3327 Views 0 comment 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 49782 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 57830 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 63532 Views 3 comments Print


Latest Judiciary


Transfer pricing adjustment by applying Bright Line Test not permissible: ITAT Delhi

Income Tax : ITAT Delhi held that Bright Line Test doesn’t have statutory mandate and cannot be applied for determining Arm’s Length Price ...

July 2, 2025 117 Views 0 comment Print

Penalty U/S 271AA for Non-Reporting in Form 3CEB Set Aside Due to Reasonable Cause

Income Tax : ITAT Pune held that penalty under section 271AA of the Income Tax Act is not imposable in view of section 273B of the Act since th...

June 19, 2025 252 Views 0 comment Print

Penalty u/s. 271AA not leviable without specifying documents not furnished by assessee

Income Tax : ITAT Ahmedabad held that penalty u/s.271AA of the Income Tax Act cannot be levied without specifying the required documents failed...

March 25, 2025 528 Views 0 comment Print

ITAT deletes Vague Penalty Order for no Proof on Non-Maintenance of Documents

Income Tax : ITAT Ahmedabad affirms CIT(A) order canceling ₹1.2 Cr penalty on Priya Blue Recycling LLP, citing lack of international transact...

March 8, 2025 357 Views 0 comment Print

Government Shareholders Not Automatically Considered Related Parties

Income Tax : In a landmark ruling, the Delhi High Court held that government shareholders are not automatically considered related parties und...

November 12, 2023 363 Views 0 comment Print


Latest Posts in Section 271AA

Transfer pricing adjustment by applying Bright Line Test not permissible: ITAT Delhi

July 2, 2025 117 Views 0 comment Print

ITAT Delhi held that Bright Line Test doesn’t have statutory mandate and cannot be applied for determining Arm’s Length Price [ALP] of Advertisement, Marketing and Promotion [AMP] expense. Accordingly, appeal allowed to that extent.

Penalty U/S 271AA for Non-Reporting in Form 3CEB Set Aside Due to Reasonable Cause

June 19, 2025 252 Views 0 comment Print

ITAT Pune held that penalty under section 271AA of the Income Tax Act is not imposable in view of section 273B of the Act since there was a reasonable cause for not reporting the said transaction in Form No. 3CEB as it was not considered to be an international transaction.

Penalty u/s. 271AA not leviable without specifying documents not furnished by assessee

March 25, 2025 528 Views 0 comment Print

ITAT Ahmedabad held that penalty u/s.271AA of the Income Tax Act cannot be levied without specifying the required documents failed to be maintained/furnished by the assessee. Thus, appeal of the revenue dismissed.

ITAT deletes Vague Penalty Order for no Proof on Non-Maintenance of Documents

March 8, 2025 357 Views 0 comment Print

ITAT Ahmedabad affirms CIT(A) order canceling ₹1.2 Cr penalty on Priya Blue Recycling LLP, citing lack of international transactions.

Penalties and Prosecutions Under Income tax Act, 1961

September 6, 2024 518100 Views 4 comments Print

Discover penalties and prosecutions under the Income Tax Act, 1961, including default conditions, quantum of penalties, and potential legal consequences.

FAQs on Penalty provisions under Income Tax Act, 1961

August 24, 2024 3327 Views 0 comment Print

Learn about penalty provisions under the IT Act, including penalties for defaults in tax payment, income reporting, and more. Key FAQs and amounts covered.

Government Shareholders Not Automatically Considered Related Parties

November 12, 2023 363 Views 0 comment Print

In a landmark ruling, the Delhi High Court held that government shareholders are not automatically considered related parties under Section 92E of the Income Tax Act, 1961. This decision has significant implications for companies with government shareholding.

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

November 1, 2023 1302 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.

ITAT Deletes Penalty: Failure to file Form No. 3CEB due to CA’s Opinion

October 25, 2023 1017 Views 1 comment Print

The Income Tax Appellate Tribunal (ITAT) in Pune deleted the penalty in the Jyoti Paper Udyog Ltd Vs. ACIT case due to non-production of Form No. 3CEB under Section 92E.

No Section 272A(1)(c) penalty if Reasonable cause shown for delay in providing details

July 22, 2023 1851 Views 0 comment Print

ITAT Mumbai held that penalty under section 272A(1)(c) not warranted as reasonable cause shown for delay in providing the details by the assessee and later in the end, the assessee had shared all the relevant details.

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