#Section 271AAC
Log in to FollowSection 271AAC of the Income Tax Act pertains to the penalty for under-reporting and misreporting of income. It imposes a penalty on taxpayers who have deliberately under-reported or misreported their income to evade tax liabilities. The section specifies the amount of penalty and provides guidelines on the imposition and calculation of the penalty. Understanding Section 271AAC is crucial for taxpayers to accurately report their income and comply with tax regulations to avoid penalties and legal consequences. This description provides an overview of Section 271AAC and its implications for under-reporting and misreporting of income under the Income Tax Act.
Income Tax
Income Tax
Section 69A Addition Invalid When Based Only on undated Third-Party Loose Papers
Income Tax
Income Tax
ITAT Bangalore Condones Delay for 74-Year-Old HUF Kartha – Substantial Justice Prevails
Income Tax
Income Tax
Draft Assessment Order was not permissible u/s 144C(1) when TPO makes no variation
Income Tax
Income Tax
Conflicting HC Rulings: ITAT Adopts Assessee-Friendly View on Section 115BBE
Income Tax
Income Tax
ITAT Chennai Allows Fresh Evidence to Challenge ₹3.79 Crore Addition u/s 68
Income Tax
Income Tax
Unexplained Cash Addition Deleted Without Remand Report – ITAT Restores Matter
Income Tax
Income Tax
Sec. 69 Applies Even Without Books, But Proof Needed – Property Cash Investment Dispute Remanded
Income Tax
Income Tax
PCIT Cannot Revise Assessment U/s 263 for Different View on Agricultural Income
Income Tax
Income Tax
ITAT Allows Sikkimese Exemption Despite Wrong PAN
Income Tax
Income Tax
Unexplained Cash Deposit Case Restored to AO for Fresh Assessment by ITAT
Income Tax
Income Tax
ITAT Sets Aside Order, Remands ₹7.28 Crore Additions for Fresh AO Review
Income Tax
Income Tax
Addition u/s. 68 deleted as source of funds proved: ITAT Delhi
Income Tax
Income Tax
ITAT Remands Ex-Parte Order on Unexplained Demonetization Cash Deposit for Fresh Hearing
Income Tax
Income Tax
