Tag: Penalty 270A

Penalty u/s 270A for claiming bogus deductions deleted by ITAT for failure to identify specific Clauses from (a)to (f) of section 270A(9) In a recent judgment, ITAT Pune has deleted penalty u/s 270A for claiming bogus deductions for failure to identify in show cause notice the specific clauses …

ITAT deletes Penalty u/s 270A due to defective notice issued u/s 274 for not specification of penalty In a recent judgment, the Bombay ITAT has deleted Penalty u/s 270A due to defective notice u/s 274 for not determination of penalty and for not mentioning in penalty order why …

CIT(A) has no jurisdiction to allow or reject claim of immunity from penalty u/s 270AA – ITAT In an important judgment ITAT has held that First Appellate Authority has no jurisdiction to enter into the question of allowing or rejecting claim of the immunity from imposition of penalty …

Merely because assessee accepted disallowance made by Assessing Officer, it cannot automatically lead to conclusion that assessee under reported income under Section 270A – ITAT  ABCAUS Case Law Citation:ABCAUS 3746 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in …

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 …

No 200 percent Penalty if income declared us 115BBE and 75% of tax and surcharge is paid before the end of the previous year as per post demonetization amendments in Income Tax Penal Provisions. Finance Minister has today introduced Taxation Laws (Second Amendment) Bill 2016 in Lok Sabha …

Rationalisation of income tax penalty provisions in budget- 2016-17 New section 270A for under-reporting of income from AY 2017-18 Under the existing provisions, income tax penalty on account of concealment of particulars of income or furnishing inaccurate particulars of income is leviable under section 271(1)(c) of the Income-tax …