Tag: income tax penalty
Penalty u/s 271B deleted as assessee was not aware that section 44AB related to Tax Audit was applicable to him as he was only a commission agent ABCAUS Case Law Citation:ABCAUS 3757 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the …
Penalty u/s 272A(1)(d) deleted as counsel misled by filing inaccurate return and not informed of assessment and penalty notices ABCAUS Case Law Citation:ABCAUS 3750 (2023) (05) ITAT Important Case Laws relied upon:Triumph International Finance India Ltd vs DCIT In the instant case, the assessee had challenged the order …
Penalty u/s 271D initiated when assessee was alive but order invalid if passed in the name of assessee after his death ABCAUS Case Law Citation:ABCAUS 3733 (2023) (05) ITAT Important Case Laws relied upon:ITO v. Bhupendra Bhikhalal Desai 131 taxmann.com 40 (SC)ITO vs. Durlabhbhai Kanubhai Rajpara 114 taxmann.com …
No Penalty leviable u/s 271C on mere delay in remittance/deposit of the TDS after deduction subject to provisions of Section 201(1A) and Section 276B – Supreme Court ABCAUS Case Law Citation:ABCAUS 3703 (2023) (04) SC Important Case Laws relied upon by parties:Lakshadweep Development Corporation Ltd. Vs. Additional Commissioner …
Income Tax Penalty u/s 271AAB deleted as assessee was declaring income on presumptive basis, was not required to maintain books and addition was made on estimated basis. ABCAUS Neutral Case Law Citation:ABCAUS 3680 (2023) (03) ITAT In the instant case, the assessee had challenged the order passed by …
Assessing agriculture income as business income no basis for imposing penalty u/s 271A as it would not ipso facto lead to conclusion that assessee was aware of the requirement maintaining books of accounts u/s 44AA ABCAUS Neutral Case Law Citation:ABCAUS 3677 (2023) (02) ITAT In the instant case, …
Delay in filing of Tax Audit Report due to computer data crash- Penalty u/s 271B quashed ABCAUS Case Law Citation:ABCAUS 3673 (2023) (02) ITAT In the instant case, the assessee had challenged the order passed by the National Faceless Appeal Centre in confirming income tax penalty u/s 271B …
Penalty u/s 270A can not be imposed without first disposing application in Form No. 68 for immunity from penalty ABCAUS Case Law Citation:ABCAUS 3664 (2023) (02) ITAT In the instant case, the appellant assessee had challenged the order passed by the Commissioner of Income Tax (Appeals), National Faceless …
Once income suffered TDS it cannot be said to be undisclosed income – ITAT ABCAUS Case Law CitationABCAUS 3650 (2023) (01) ITAT Important Case Laws relied upon:Samson Maritime Ltd. vs CITMak Data 258 ITR 593 (SC)Dharmendra Textiles Processors (2007) 295 ITR 244CIT vs Vidyagauri Natwar Lal, 238 ITR …
If one proceeding is saved, other has to be quashed – interesting judgment of ITAT on reassessment and penalty proceedings. ABCAUS Case Law CitationABCAUS 3649 (2023) (01) ITAT This interesting judgment of the ITAT deals with one quantum-appeal filed by assessee against the order passed by Commissioner of …
