Not striking off penalty notice SC dismisses assessee’s SLP against High Court order holding that it had caused no prejudice…
Assessee’s explanation may not be sufficient for deleting addition on merit, however, in penalty proceedings it deserves to be accepted…
No concealment penalty based on circumstantial evidence of bogus purchases where the income was estimated on the basis of circumstances…
Concealment penalty upheld on profit estimated on suppressed turnover conceded by assessee and quantified on the basis of Form 26AS…
Concealment penalty deleted when income suo moto declared in return filed u/s 148 without the same being brought to its…
Concealment penalty for change in method of stock valuation deleted by ITAT. Lower of Cost or market price method was…
Concealment Penalty u/s 271(1)(c) for claiming capital loss as business loss. No Penalty when the assessee disclosed all the material…
Penalty for concealment can not be imposed when notice issued was for furnishing inaccurate particulars of income - ITAT ABCAUS…
No concealment if income returned and accepted is same where assessee surrenders income at survey action before the end of…
Expenses claimed in profit and loss account not amount to concealment. ITAT deletes penalty u/s 271(1)(c) following Supreme Court judgment ABCAUS…