Section 271AA

Penalties & Prosecutions Under Income tax Act, 1961

Income Tax - Penalties and Prosecutions Default in complying with provisions of or with conditions prescribed under the Income-tax Act would attract certain penalty and in critical cases prosecutions as well. The document will provide you information about the punishable offences, prosecutions and the quantum of penalties that can be imposed under the...

Read More

Power of Commissioner to Reduce or Waive Income Tax Penalty

Income Tax - In the Article on Penalties Under the Income-tax Act, we discussed various penalties imposable under the Income-tax Act in respect of various defaults. Apart from enacting penalty provisions, the Income-tax Act also designed provisions empowering the Principal Commissioner of Income-tax or Commissioner of Income-tax to grant relief from p...

Read More

Penalties under the Income-Tax Act, 1961

Income Tax - Under the Income-tax Act, penalties are levied for various defaults committed by the taxpayer. Some of the penalties are mandatory and a few are at the discretion of the tax authorities. In this part, you can gain knowledge about the provisions relating to various penalties leviable under the Income-tax Act....

Read More

Prosecutions and Punishment under Income-Tax Act, 1961

Income Tax - In Addition to penalty for various defaults, the Income-tax Act,1961 also contains provisions for launching prosecution proceedings against the taxpayers for various offences. This Article explains about the various provisions relating to prosecution which can be launched under the Income-tax Act,...

Read More

All about Income Tax Offences liable to prosecution

Income Tax - In addition to levy of penalty for various defaults by the taxpayer, the Income-tax Act,1961 also contains provisions for initiating prosecution for offences committed by the taxpayer. In this article you will know about offences in respect of which prosecutions can be launched under the Income-tax Law. ...

Read More
Sorry No Post Found

Penalty notice without proper application of mind is invalid

Siddhi Home Makers Vs ITO (ITAT Mumbai) - Where Assessing Officer issued two notices for imposition of penalty namely, one u/s 274 r.w.s. 271(1)(c) and second u/s 274 r.w.s 271AAA in cases where search u/s 132 of the Act has been initiated, then such notices issued by AO are untenable in law....

Read More
Sorry No Post Found

Recent Posts in "Section 271AA"

Penalties & Prosecutions Under Income tax Act, 1961

Penalties and Prosecutions Default in complying with provisions of or with conditions prescribed under the Income-tax Act would attract certain penalty and in critical cases prosecutions as well. The document will provide you information about the punishable offences, prosecutions and the quantum of penalties that can be imposed under the...

Read More
Posted Under: Income Tax |

Penalty notice without proper application of mind is invalid

Siddhi Home Makers Vs ITO (ITAT Mumbai)

Where Assessing Officer issued two notices for imposition of penalty namely, one u/s 274 r.w.s. 271(1)(c) and second u/s 274 r.w.s 271AAA in cases where search u/s 132 of the Act has been initiated, then such notices issued by AO are untenable in law....

Read More

Power of Commissioner to Reduce or Waive Income Tax Penalty

In the Article on Penalties Under the Income-tax Act, we discussed various penalties imposable under the Income-tax Act in respect of various defaults. Apart from enacting penalty provisions, the Income-tax Act also designed provisions empowering the Principal Commissioner of Income-tax or Commissioner of Income-tax to grant relief from p...

Read More
Posted Under: Income Tax | ,

Penalties under the Income-Tax Act, 1961

Under the Income-tax Act, penalties are levied for various defaults committed by the taxpayer. Some of the penalties are mandatory and a few are at the discretion of the tax authorities. In this part, you can gain knowledge about the provisions relating to various penalties leviable under the Income-tax Act....

Read More
Posted Under: Income Tax | ,

Prosecutions and Punishment under Income-Tax Act, 1961

In Addition to penalty for various defaults, the Income-tax Act,1961 also contains provisions for launching prosecution proceedings against the taxpayers for various offences. This Article explains about the various provisions relating to prosecution which can be launched under the Income-tax Act,...

Read More
Posted Under: Income Tax | ,

All about Income Tax Offences liable to prosecution

In addition to levy of penalty for various defaults by the taxpayer, the Income-tax Act,1961 also contains provisions for initiating prosecution for offences committed by the taxpayer. In this article you will know about offences in respect of which prosecutions can be launched under the Income-tax Law. ...

Read More
Posted Under: Income Tax | ,

Section 271AA – Levy of Penalty on part disclosed income

Reliance in this connection can be placed on a recent judicial pronouncement of Hon’ble Calcutta Tribunal in case of SPS Steel & Power Limited vs. ACIT [I.T.A Nos. 1391 & 1414/Kol/2011] pronounced on 30-06-2015 wherein a search & seizure operation was conducted on the premises of the appellant under Section 132 and income to...

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (3,481)
Company Law (3,409)
Custom Duty (6,607)
DGFT (3,449)
Excise Duty (4,043)
Fema / RBI (3,249)
Finance (3,455)
Income Tax (25,020)
SEBI (2,734)
Service Tax (3,281)

Search Posts by Date

September 2017
M T W T F S S
« Aug    
 123
45678910
11121314151617
18192021222324
252627282930