concealment penalty

  • Income Tax

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

No concealment penalty on return revision made before issue of notice u/s 148 though after initiation of investigation in tax…

7 years ago
  • Income Tax

Concealment means positive act on part of the assessee and onus to prove is on Revenue – ITAT

Concealment means positive act on part of the assessee and the onus to prove is on Revenue. Penalty can not…

7 years ago
  • Income Tax

Penalty notice without specific charges when assessee had no confusion if it was for concealment or inaccurate particulars-Upheld

Penalty notice without specific charges when assessee had no confusion as to if it was for concealment or inaccurate particulars as…

7 years ago
  • Income Tax

Reduction of loan waived from fixed assets actual cost-wdv u/s 43(6)(c) not required for calculating depreciation under I.T. Act – ITAT

Reduction of loan waived from fixed assets actual cost-wdv u/s 43(6)(c) not required for calculating depreciation allowable under Income tax…

7 years ago
  • Income Tax

Concealment penalty deleted when income was received by cheque after deducting TDS. ITAT accepts non disclosure as inadvertent

Concealment penalty deleted when income was received by cheque after deducting TDS. ITAT accepts that non disclosure was inadvertent not…

7 years ago
  • Income Tax

No concealment penalty without recording findings to bonafide of the explanation offered by the assessee with reasoning. ITAT deletes penalty u/s 271(1)(c)

No concealment penalty without recording findings to bonafide of the explanation offered by the assessee with reasoning. ITAT deletes penalty…

7 years ago
  • Income Tax

Non striking off clause in penalty notice u/s 271(1)(c) do not invalidate it. ITAT deviates from the Judgment of Karnataka High Court follows jurisdictional High Court

Non striking off clause in penalty notice u/s 271(1)(c) do not invalidate it. ITAT deviates from the Judgment of Karnataka…

7 years ago
  • Income Tax

Penalty started for concealment levied for inaccurate particulars and concealment both is invalid-ITAT

Penalty initiated for concealment levied for inaccurate particulars and concealment both is invalid. AO must frame a precise charge u/s…

7 years ago
  • Income Tax

No income concealment us 271(1(c) on gift under explanation 5A. NSC declared us 153A was received as inheriting, gift from father, grandfather-ITAT

No income concealment us 271(1(c) on gift under explanation 5A. NSC declared us 153A was received as inheriting, gift from…

8 years ago
  • Income Tax

Penalty 271(1)(c) interest on income-tax refund not added to income but disclosed in notes to accounts

Penalty 271(1)(c) interest on income-tax refund not added to income but disclosed in notes to accounts as contingent income HIGH…

8 years ago