Penalty u/s 271(1)(c) deleted as quantum addition was reduced significantly from 100% to 20% in respect of bogus purchases. In…
Non-specific penalty notice u/s 271(1)(c) issued by assessing officer violates mandatory requirement of law and doctrine of prejudice cannot be…
Penalty u/s 271E deleted when loan was paid in cash to avoid default effecting CIBIL score as signed cheque books…
Penalty u/s 271(1)(b) can not be imposed when assessment order passed u/s 143(3) not best judgment assessment u/s 144 ABCAUS…
When quantum additions deleted, penalty u/s 271(1)(b) not leviable for failure to comply with notices u/s 142(1). At best it…
Market value of stock instead of cost no basis to determine undisclosed income. Penalty u/s 271AAB not mandatory ABACUS Case…
Penalty 271(1)(b) deleted as assessee had furnished medical certificate of treatment for depression and AO did not bring anything against…
Concealment Penalty cannot be levied on rejection of a bonafide claim. Even assessee with great expertise could make silly mistake…
No penalty u/s 271E where persons are properly identified and transactions are genuine as there can be no attempt to…
Penalty notice u/s 271AAB without specifying at what percentage the penalty will be levied makes it defective and invalid and…