Income Tax : This guide explains the penalty and prosecution framework under the Income-tax Act for AY 2026-27. It highlights the consequences ...
Income Tax : This FAQ serves as a reference for the Income-tax Act provisions relating to cash receipts, loans, repayments, and electronic paym...
Income Tax : The article explains how offences such as wilful tax evasion, failure to file returns, non-payment of TDS/TCS, falsification of re...
Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Income Tax : This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine c...
Income Tax : ITAT held the Section 271D penalty was time-barred under Section 275(1)(c) as it was imposed after the prescribed limitation perio...
Income Tax : ITAT held that penalty under Section 271D cannot survive where the Assessing Officer failed to record satisfaction in the assessme...
Income Tax : ITAT held that penalty under Section 271D is invalid where the Assessing Officer failed to record satisfaction in the assessment o...
Income Tax : ITAT held that penalty under Section 271D cannot survive where the Assessing Officer failed to record satisfaction in the assessme...
Income Tax : Gujarat High Court upheld deletion of the Section 271D penalty, holding that absence of recorded satisfaction in the assessment or...
Income Tax : It is a settled position that period of limitation of penalty proceedings under section 271D and 271E of the Act is governed by th...
Income Tax : It has been brought to notice of CBDT that there are conflicting interpretations of various High Courts on the issue whether the l...
ITAT quashes penalty order under section 271D as it was time-barred. Detailed analysis of Ram Kishan Verma Vs Additional CIT (ITAT Jaipur) case.
An in-depth analysis of the case Sofitra Impex Pvt. Ltd. vs. ACIT (ITAT Delhi) regarding violations of Section 269SS and 269T of the Income Tax Act.
Delhi High Court held that the notice under Section 274 of the Income Tax Act should have been issued before the period of limitation as prescribed under section 275(1)(c) of the Income Tax Act.
ITAT Delhi held that disallowance under section 40A(2)(b) of the Income Tax Act on merely estimating that more income should have been earned from sub-contracting without bringing any comparable figures is unsustainable in law.
In an income tax penalty case, ITAT Chennai dismisses the appeal, upholding that advances received by Dr. M.N. Kumaresan constitute gifts and are exempt from penalty under section 271D.
ITAT Ahmedabad rules that penalties under Section 271D of the Income Tax Act cannot be imposed on loans transacted through banking channels. Details and analysis.
ITAT Hyderabad held that receipt of more than Rs. 20,000 by way of cash without any reasonable cause is in contravention of provisions of section 269SS of the Income Tax Act. Accordingly, penalty under section 271D duly imposed.
In Gopinath Kanduri vs. ITO case, penalty under section 271D was imposed for a technical violation of section 269SS. Learn how tribunal ruled in favor of assessee.
Discover the legal constraints around cash transactions under India’s Income Tax Act. Learn about the various sections that impose limits and penalties on cash dealings.
High Court held that Show cause proceeding cannot be scuttled by filing a writ petition, as it is not without jurisdiction. It is open for the petitioner to reply to the SCN for violation of Sec 269SS.
