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 : 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 : This article outlines major penalties under the Income-tax Act for defaults involving tax payments, return filing, TDS compliance,...
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 : ITAT Surat held that absence of satisfaction in the assessment order invalidated the Section 271D penalty, following the Supreme C...
Income Tax : The ITAT held that penalty under Section 271DA cannot be sustained where the Assessing Officer failed to record a clear and consci...
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 Bangalore cancels ₹2.20 lakh penalty on Rajiv Duseja for cash loans from family. Cites precedents on genuine transactions & reasonable cause.
ITAT Jaipur sets aside addition and penalty against Mukesh Kumar Agarwal due to lack of valid jurisdiction and time-barred penalty order.
ITAT Kolkata removes ₹1 crore penalty under Sec 271E, ruling cash transaction between sister concerns as reimbursement, not loan repayment.
ITAT Jaipur quashes penalty under Section 271E of the Income Tax Act in Anil Sharma vs. ITO due to absent recorded satisfaction.
Delhi High Court held that imposition of penalty under section 271DA of the Income Tax Act is justifiable since there is no inordinately and inexplicably delay in initiation of penalty proceedings. Accordingly, writ dismissed.
ITAT Bangalore held that penalty order under section 272A(2)(e) of the Income Tax Act has to be passed within reasonable time. Since, the penalty order is not passed within reasonable time, the same is liable to be quashed.
Assessee contended that there was no violation of provisions of sec.269T since the security deposits were obtained through banking channels and were only adjusted towards the outstanding dues.
ITAT Amritsar held that there is no violation of provisions of section 269SS of the Income Tax Act when cash payment was made at one go before sub-registrar at the time of registration of sale deed. Accordingly, penalty under section 271D deleted.
Simplified penalty timelines under Section 275 effective April 2025, including changes in penalty powers, omissions, and clarifications on Section 271AAB.
Supreme Court rules on penalty under Section 271E of the Income Tax Act in CIT vs. Jai Laxmi Rice Mills. Find out how assessment order impacts penalty proceedings.
