concealment penalty

  • Income Tax

Not striking off concealment penalty notice-SC dismisses assessee’s SLP

Not striking off penalty notice SC dismisses assessee’s SLP against High Court order holding that it had caused no prejudice…

6 years ago
  • Income Tax

Explanation of assessee though rejected in assessment, accepted by ITAT in penalty proceedings

Assessee’s explanation may not be sufficient for deleting addition on merit, however, in penalty proceedings it deserves to be accepted…

6 years ago
  • Income Tax

No concealment penalty on circumstantial evidence of bogus purchases where income was estimated

No concealment penalty based on circumstantial evidence of bogus purchases where the income was estimated on the basis of circumstances…

6 years ago
  • Income Tax

Concealment penalty upheld on profit estimated on suppressed turnover quantified on the basis of Form 26AS

Concealment penalty upheld on profit estimated on suppressed turnover conceded by assessee and quantified on the basis of Form 26AS…

6 years ago
  • Income Tax

Concealment penalty deleted when income suo moto declared in return filed u/s 148

Concealment penalty deleted when income suo moto declared in return filed u/s 148 without the same being brought to its…

6 years ago
  • Income Tax

Concealment penalty for change in method of stock valuation deleted by ITAT

Concealment penalty for change in method of stock valuation deleted by ITAT. Lower of Cost or market price method was…

6 years ago
  • Income Tax

Concealment Penalty u/s 271(1)(c) for claiming capital loss as business loss quashed as assessee disclosed it in computation

Concealment Penalty u/s 271(1)(c) for claiming capital loss as business loss. No Penalty when the assessee disclosed all the material…

6 years ago
  • Income Tax

Penalty for concealment can not be imposed when notice issued was for furnishing inaccurate particulars of income

Penalty for concealment can not be imposed when notice issued was for furnishing inaccurate particulars of income - ITAT ABCAUS…

6 years ago
  • Income Tax

No concealment if income returned and accepted is same and amount was surrendered before the end of financial year – ITAT 

No concealment if income returned and accepted is same where assessee surrenders income at survey action before the end of…

6 years ago
  • Income Tax

Expenses claimed in profit and loss account not amount to concealment-ITAT deletes penalty u/s 271(1)(c)

Expenses claimed in profit and loss account not amount to concealment. ITAT deletes penalty u/s 271(1)(c) following Supreme Court judgment  ABCAUS…

6 years ago