#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
ITAT Orders Re-Assessment of Demonetisation Period Additions
Income Tax
Income Tax
Adverse Income Tax Orders: Implications and Penalties
Income Tax
Income Tax
Application of cash received from unrecorded cash sales needs verification hence matter restored
Income Tax
Income Tax
Taxing addition at higher rate u/s. 115BBE for cash deposit during demonetization not tenable: ITAT Surat
Income Tax
Income Tax
Unexplained Cash Deposits during demonetization period was remanded back for proper verification
Income Tax
Income Tax
ITAT Deletes Cash Deposit Addition, Accepts Assessee’s Gold Sale Explanation
Income Tax
Income Tax
ITAT Delhi Deletes ₹26.35 Lakh Addition on Cash Deposits
Income Tax
Income Tax
No Penalty Under Section 271AAC for Income disclosed Within Section 139 Timeframe
Income Tax
Income Tax
Resorting to estimation of profit without rejection of books not justified: ITAT Hyderabad
Income Tax
Income Tax
Appellant’s unawareness of e-proceedings: ITAT Remands Case for Reassessment
Income Tax
Income Tax
ITAT Kolkata deletes Addition for Unexplained Cash Deposit not belonging to Assessee
Income Tax
Income Tax
Unexplained Loan: ITAT Ahmedabad Refers Rs. 99.52 Lakh Addition to AO
Income Tax
Income Tax
Section 68 Not Applicable for Non-Utilisation of CSR Funds: ITAT Ahmedabad
Income Tax
Income Tax
