Income Tax : Discover penalties and prosecutions under the Income Tax Act, 1961, including default conditions, quantum of penalties, and potent...
Income Tax : Learn about penalty provisions under the IT Act, including penalties for defaults in tax payment, income reporting, and more. Key ...
Income Tax : Explore how seizure of documents can impact audit deadlines under Section 44AB and defenses against Section 271B penalties for aud...
Income Tax : Dive into Section 271B's mandates, penalties, and exemptions under the Income Tax Act. Explore real cases, challenges, and strateg...
Income Tax : Explore recent ITAT judgment in Rakesh Kr. Jha vs. ITO, delving into interpretation of Sections 271A and 271B, highlighting confli...
Income Tax : All Odisha Tax Advocates Association has filed an PIl before Orissa High Court with following Prayers- (i) Admit the Writ Petition...
Income Tax : ITAT Cochin deletes penalty under Section 271B for delayed tax audit, citing the demise of the managing partner as a reasonable ...
Income Tax : Provisions of Section 44AB, which mandate Tax audit, are not applicable to fictional income provisions like Section section 68, 69...
Income Tax : ITAT Bangalore set aside penalty orders under Section 271B due to improper notice delivery to an unrelated email ID and failure to...
Income Tax : ITAT Bangalore held that penalty order under section 272A(2)(e) of the Income Tax Act has to be passed within reasonable time. Sin...
Income Tax : ITAT Surat remands penalty case under Section 271B to AO, ruling that bank transactions alone cannot determine turnover. Fresh con...
ITAT Jaipur held that mere entering into the Development Agreement would not permit invocation of section 45(2) of the Income Tax Act. There is no positive act which indicates that the assessee has treated capital asset as stock-in-trade.
Discover penalties and prosecutions under the Income Tax Act, 1961, including default conditions, quantum of penalties, and potential legal consequences.
ITAT Nagpur held that once the computation of income is approved by the assessee before CIT(A) the same cannot be argued against the Tribunal. Accordingly, computation of income directed by CIT(A) upheld.
Learn about penalty provisions under the IT Act, including penalties for defaults in tax payment, income reporting, and more. Key FAQs and amounts covered.
Explore how seizure of documents can impact audit deadlines under Section 44AB and defenses against Section 271B penalties for audit delays.
ITAT Mumbai cancels ₹1 lakh penalty imposed on Sameer Mavji Patel under Section 271B for delayed tax audit report, citing reasonable cause due to survey delays.
ITAT Chennai confirmed penalty imposed under section 271B of the Income Tax Act for non-furnishing audit report, in absence of any reasonable or sufficient cause for not complying with legal provisions of section 44AB of the Income Tax Act.
Read the full text of the order from ITAT Agra where penalty u/s 271B was deleted for Tasavver Husain vs ITO. Detailed analysis and conclusion provided.
Detailed analysis of the appeal against a penalty imposed under Section 271B of the Income Tax Act by the ITAT Delhi in the case of Sanjeev Kumar Goyal vs ITO, including the reasons for the penalty dismissal.
Dive into Section 271B’s mandates, penalties, and exemptions under the Income Tax Act. Explore real cases, challenges, and strategies for adherence.
