Section 271B
Penalties and 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 MoreProsecutions 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 the taxpayers for various offences. In this part you can gain knowledge about the various provisions relating to prosecution which can be launched under the Income-tax Act....
Read MoreAll about 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 prosecution for offences committed by the taxpayer. In this part you can gain knowledge about offences in respect of which prosecutions can be launched under the Income-tax Law. For provisions relating to punishment c...
Read MorePower 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 respect of various defaults. Apart from enacting penalty provisions...
Read MorePenalties 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 MorePenalty U/s. 271B not leviable if Assessee had Bona fide belief that accounts not liable for audit U/s. 44AB
United Education Society, C/o NIMT College Vs JCIT (ITAT Delhi) - United Education Society Vs JCIT (ITAT Delhi) Undisputedly, the assessee society is registered under section 12A of the Act as a charitable trust engaged in charitable activities for imparting education through its colleges. It is also not in dispute that the assessee society has been claiming exe...
Read MoreS. 271B No penalty for non-furnishing of audit report within due date if same was obtained before due date
Mr Prem Prakash Senapati Vs ITO (ITAT Cuttack) - We find that the audit report was obtained within section 139(1) time limit is not in dispute. It is also not in dispute that the copy of audit report was furnished to the Assessing Officer as and when the Assessing Officer called for the same. ...
Read MorePenalty cannot be levied for non-audit of books of Account if penalty already been levied for non-maintenance of books
Roshni Devi Vs Income Tax Officer (ITAT Jaipur) - These are the three appeals filed by the assessee against the respective orders of the ld. CIT(A)-I, Jaipur dated 05/09/2017 for the A.Y. 2011-12 wherein the assessee has challenged the action of the Assessing Officer in levying the penalty U/s 271(1)(c), ...
Read MoreNo Penalty U/s. 271B if assessee maintained books of account
Mohd. Imtiyaz Khan Prop Vs Income Tax Officer (ITAT Lucknow) - Whether penalty under section 271B of the Act could be levied in a case where the books of account were maintained by the assessee. The Hon'ble jurisdictional High Court in that case held that where no account has been maintained, section 271B does not get attracted and instead recourse under sectio...
Read MoreNo penalty u/s 271B if appellant had bonafide belief
Dr. Shantanu Datta Vs ITO (ITAT Kolkata) - Hon'ble Kolkata ITAT has deleted penalty u/s 271B in the case of Dr. Shantanu Datta in I.T.A. No. 261/Kol/2017 as there was a bona fide belief entertained by the assessee in the facts and circumstances of the case and the same constituted a reasonable cause for the failure of the assessee to compl...
Read MoreRecent Posts in "Section 271B"
Penalty U/s. 271B not leviable if Assessee had Bona fide belief that accounts not liable for audit U/s. 44AB
United Education Society, C/o NIMT College Vs JCIT (ITAT Delhi) -
Penalties and Prosecutions Under Income tax Act, 1961
S. 271B No penalty for non-furnishing of audit report within due date if same was obtained before due date
Mr Prem Prakash Senapati Vs ITO (ITAT Cuttack) -
Penalty cannot be levied for non-audit of books of Account if penalty already been levied for non-maintenance of books
Roshni Devi Vs Income Tax Officer (ITAT Jaipur) -
Prosecutions and Punishment under Income-Tax Act, 1961
No Penalty U/s. 271B if assessee maintained books of account
Mohd. Imtiyaz Khan Prop Vs Income Tax Officer (ITAT Lucknow) -
All about Income Tax Offences liable to prosecution
Power of Commissioner to Reduce or Waive Income Tax Penalty
Penalties under the Income-Tax Act, 1961
No penalty u/s 271B if appellant had bonafide belief
Dr. Shantanu Datta Vs ITO (ITAT Kolkata) -
Browse All Categories
Latest Posts
- Importance of Copyright Registration in today’s competitive age
- नकद व्यवहार पर लगाए गए प्रतिबन्ध !! Ban on Cash Transactions
- GST Charcha: Whether Intermediary Services are export of Services?
- Nodal officers nominated for implementation of e-way bill system
- Measures to Expedite refund of GST to Exporters
- GSTR-3B return- How to create, save, pay taxes and file
- Nil GSTR-3B Return- How to File
- How to Track GST Return Status – FAQs and Manual
- How to View e-filed GST Returns – FAQs and Manual
- Filing an Appeal against GST Demand Order :FAQ and User Manual
Popular Posts
Featured Posts
- Tax benefits of investing in mutual funds
- Tax Compliance & Planning For Salaried Individuals
- Deduction of Interest on Home Loan From House Property income
- Interest on Home Loan on Self Occupied House –Tax benefits
- Last Moment Tax Saving Investment options Under Section 80C
- Double Benefit on Taxes on Housing Loan
- All about Kisan Vikas Patra and its Taxation
- Submitting Form No. 15G & 15H -Points to Remember
- Tips for Filing Income Tax Returns
- HRA Vs. Rent Free Accommodations (RFA)
