Daily Archive: Saturday, April 30, 2016

No penalty imposable u/s 271(1)(c) where High Court accepted substantial question of law u/s 260A against quantum appeal showing that issue is debatable

Author: | Categories: Income Tax, ITAT, Judgments No comments
In a recent judgment, ITAT Delhi has stated that where High Court accepted substantial question of law u/s 260A, against the quantum appeal, itself shows that issue was debatable and in such a case no penalty was imposable u/s 271(1)(c) of the Income-tax Act, 1961. Case Law Details: ITA No.

 

Penalty u/s 271(1)(c) for mistake of not disclosing Long Term Capital Gain LTCG on the land part comprised in the block of Factory Building sold

Author: | Categories: Income Tax, ITAT, Judgments No comments
In a recent judgment, ITAT Delhi has set aside penalty u/s 271(1)(c) and remanded the matter to CIT(A) for mistake of assessee not disclosing Long Term Capital Gain LTCG on the land comprised in the block of Factory Building sold. Case Law Details: ITA No. 5939/Del./2013 : Asstt. Year : 2009-10 Brijbasi