penalty 271(1)(c)

  • Income Tax

There is a difference in “facts not proved” and “facts disproved” and penalty u/s 271(1)(c) can be levied only for the latter

In a latest judgment, ITAT Chennai has quashed penalty proceedings u/s 271(1)(c) for concealment holding that  there is a difference…

8 years ago
  • Income Tax

Penalty 271(1)(c) quashed-Assessee forget to declare interest income due to old age

In a recent judgment, ITAT Amritsar has quashed penalty imposed u/s 271(1)(c) for non declaration of bank fixed deposit interest…

8 years ago
  • Income Tax

Penalty-271(1)(c) – share application money received from different companies with common addresses,

Penalty-271(1)(c) - share application money received from different companies with common addresses The Explanation 1 to section 271(1)(c) raises rebuttable…

8 years ago
  • Income Tax

Penalty-2711c not imposable if income estimated u/s 144 where books not produced

Penalty-2711c not imposable if income estimated u/s 144 where books of accounts not produced INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH;…

8 years ago
  • Income Tax

Penalty 271(1)(c) – Limitation provisions apply as per law in force at the time of filing of return

Penalty 271(1)(c) - Limitation provisions u/s 275(1A) apply as per law in force at the time of filing of return…

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
  • Income Tax

Rationalisation of income tax penalty provisions in budget- 2016-17

Rationalisation of income tax penalty provisions in budget- 2016-17 New section 270A for under-reporting of income from AY 2017-18 Under…

8 years ago
  • Income Tax

Penalty 271(1)(c) deleted for claiming deduction u/s 54 for two residential houses for ambiguity

Penalty 271(1)(c) deleted for claiming deduction u/s 54 for two residential houses for ambiguity before amendment in 2014 INCOME TAX…

8 years ago