concealment penalty Archive

No concealment penalty for wrong claim on the advice of CA – Punjab & Haryana High Court

Author: | Categories: High Courts, Income Tax, Judgments No comments
No concealment penalty for wrong claim on the advice of CA. Even if it was wrong, it could be a good case for addition but not for penalty – Punjab & Haryana High Court ABCAUS Case Law Citation: ABCAUS 1296 (2017) (07) HC The Question framed for determination: “Whether

Non-disclosure of bank account due to over-sight-Concealment penalty u/s 271(1)(c) upheld

Author: | Categories: Income Tax, ITAT, Judgments No comments
Non-disclosure of bank account due to over-sight-Concealment penalty u/s 271(1)(c) upheld as no credible explanation given for omission & source of deposits – ITAT ABCAUS Case Law Citation: ABCAUS 1268 (2017) (05) ITAT Assessment Year: 2009-10 Date/Month of Judgment/Order: May, 2017 Brief facts of the case: The assessee was

Penalty us 271(1)(c) for black money in Swiss bank deleted on legal grounds as ITD failed poorly to prosecute on legal grounds.

Author: | Categories: Income Tax, ITAT, Judgments No comments
Penalty us 271(1)(c) for black money in Swiss bank deleted on legal grounds by the ITAT as the Income Tax Department failed poorly to prosecute on legal grounds. This is in fact one of the example to what extent Income Tax Department had prepared its officer with required skills

Penalty 271(1)(c) Merely if suppliers not traced at given address not indicative of concealment or furnishing inaccurate particulars

Author: | Categories: Income Tax, ITAT, Judgments No comments
Penalty 271(1)(c) Merely if suppliers not traced at given address not indicative of concealment of income or furnishing of inaccurate particulars-ITAT ABCAUS Case Law Citation: ABCAUS 1231 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the CIT(A) qua confirmation of penalty u/s

No Penalty 271(1)(c) for disallowance 43B if quantum not disputed and following mercantile accounting it could be debited to PL A/c – ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
No Penalty 271(1)(c) for disallowance 43B if quantum not disputed and following mercantile accounting it could be debited to Profit and Loss A/c – ITAT ABCAUS Case Law Citation: ABCAUS 1230 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the CIT(A) qua

Penalty 271(1)(c) Non-deletion of few words not invalidated notice when relevant clause was duly ticked-ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
Penalty 271(1)(c) Non-deletion of few words not invalidated notice or caused any prejudice to the assessee when relevant clause was duly ticked-ITAT  ABCAUS Case Law Citation: ABCAUS 1229 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the CIT(A) qua confirmation of penalty

No concealment penalty on return revision before issue of notice u/s 148 but after initiation of investigation in tax evasion petition filed – ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
No concealment penalty on return revision made before issue of notice u/s 148 though after initiation of investigation in tax evasion petition filed against the assessee – ITAT ABCAUS Case Law Citation: ABCAUS 1215 (2017) (04) ITAT The Grievance: The appellant assessee company was aggrieved by the order of
error: Content is protected ! Share the page link instead