penalty 271(1)(c) Archives - Page 5 of 6

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

administrator October 11, 2016 Income Tax, ITAT, Judgments

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 ABCAUS Case Law Citation: 1032 (2016) (10) ITAT Important case law cited: Sheraton Apparels Vs. ACIT (2002) 256 ITR 20 Brief Facts of the Case: The …

Penalty us 271(1)(c) if assessee agreed disallowance to buy peace. Merely because assessee agreed addition, he can not be saddled with penalty-ITAT

administrator August 14, 2016 Income Tax, ITAT, Judgments

Penalty us 271(1)(c) if assessee agreed disallowance to buy peace. Merely because assessee agreed addition, he can not be saddled with penalty-ITAT ABCAUS Case Law Citation: 989 2016 (08) ITAT Assessment Year: 2009-10 Date/Month of Judgment/Order: August, 2016 Brief Facts of the Case: The assessee in his return …

Penalty 271(1)(c) can not be imposed when High Court admits substantial question of law on addition making apparent that it is debatable – ITAT

administrator August 7, 2016 Income Tax, ITAT, Judgments

Penalty 271(1)(c) can not be imposed when High Court admits substantial question of law on quantum addition making apparent that addition is debatable – ITAT ABCAUS Case Law Citation: 982 2016 (08) ITAT Assessment Year: 2005-06 Date/Month of Judgment: August 2016 Brief Facts of the Case: During the …

Penalty us 2711c imposable on voluntary surrender-disclosure to avoid litigation and to buy peace of mind, as it does not meet requirements of Explanation (1) to section

administrator June 21, 2016 Income Tax, ITAT, Judgments

Penalty us 2711c imposable on voluntary surrender-disclosure to avoid litigation and to buy peace of mind, as it does not meet requirements of Explanation (1) to section 271(1)(c). This was held by ITAT in a recent judgment as under. ABCAUS Case Law Citation: 954 2016 (06) ITAT Assessment …

Penalty 2711c – Pending Petition us 154 to be disposed off first and penalty be dropped if assessees claim as per rectification petition found correct-ITAT

administrator June 18, 2016 Income Tax, ITAT, Judgments

Penalty 2711c – Pending Petition us 154 to be verified/disposed off first and penalty be dropped if the claim of the assessee as per rectification petition was found correct-ITAT ABCAUS Case Law Citation: 950 2016 (06) ITAT AY: 2006-07 Date of Judgment: June, 2016 Brief Facts of the …

No Penalty us 2711c for additions made on DVO report basis as it is just an opinion estimate. This proposition of Law is in line with Supreme Court judgment

administrator June 7, 2016 Income Tax, ITAT, Judgments

No Penalty us 2711c for additions made on DVO report basis as the DVO report is just an opinion or estimate. The mere fact that the assessee had not agitated additions made in the appellate proceedings does not militate against the assessee in the penalty proceedings. This was …

Penalty 2711c Immunity Explanation5A for Belated Return u/s 139(4). Immunity available to assessee who has filed belated return of income u/s 139(4)-held by ITAT Ahmedabad.

administrator May 18, 2016 Income Tax, ITAT, Judgments

Penalty 2711c Immunity Explanation5A for Belated Return u/s 139(4). Immunity available to assessee who has filed belated return of income u/s 139(4)-held by ITAT Ahmedabad. Case Law Details: IT(SS)A.No.24/RJT/2013 Hitesh Mulchand Doshi (Appellant) vs. ACIT (Respondent) Date of Order/Judgment: 16/05/2016 Important Judgments Cited: ITO Vs. Gope M. Rochlani, …

Penalty 271(1)(c) quashed for non-malafide conduct to evade tax payment for 68 years aged retired scientist not conversant with Income Tax Act

administrator May 9, 2016 Income Tax, ITAT, Judgments

Penalty 271(1)(c) quashed for non-malafide conduct to evade tax payment in the case of 68 years aged retired scientist not very much conversant with the provisions of the Income Tax Act by ITAT Kolkata in its recent judgment as under: Case Law Details: ITA No.1900/Kol/2014 Assessment year : 2006-07 Dr.S.N.Ganguly vs. ACIT Date …

Penalty u/s 271(1)(c) merely because quantum was decided against assessee by ITAT. The assessment and penalty proceedings are independent

administrator May 7, 2016 Income Tax, ITAT, Judgments

Penalty u/s 271(1)(c) not imposable merely because quantum was decided against assessee by ITAT. The assessment proceedings and penalty proceedings are independent proceedings. ITAT Amritsar, in a recent judgment, upheld the deletion of the peanlty when additions were made on estimation basis. Case Law Details : I.T.A No.148 (Asr)/2014 Assessment Year: …

No penalty imposable u/s 271(1)(c) where High Court accepted substantial question of law u/s 260A against quantum appeal

administrator April 30, 2016 Income Tax, ITAT, Judgments

Where High Court accepted substantial question of law u/s 260A, against the quantum appeal, itself shows that issue was debatable and in such a case no penalty was imposable u/s 271(1)(c) In a recent judgment, ITAT Delhi has stated that where High Court accepted substantial question of law u/s …

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