When assessee surrendered exemption claimed on the condition that penalty proceedings u/s 271(1)(c) are not initiated there was no question…
AO is under obligation to specify the limb of section 271(1)(c) at the time of initiation as well as at…
CIT is empowered to invoke revisionry powers u/s 263 to direct AO to initiate penalty proceedings u/s 271(1)(c) - ITAT…
Penalty U/s 271(1)(c)-Unspecified charge in notice can be made good with a clear-cut finding in penalty order - ITAT explains…
Mere making a claim for set off of losses not furnishing inaccurate particulars of income as it was personal opinion…
Not disclosing accrued FDR interest payable on maturity was not Concealment. Penalty deleted as interest was payable on termination or…
Assessee’s explanation may not be sufficient for deleting addition on merit, however, in penalty proceedings it deserves to be accepted…
No concealment penalty based on circumstantial evidence of bogus purchases where the income was estimated on the basis of circumstances…
Concealment penalty upheld on profit estimated on suppressed turnover conceded by assessee and quantified on the basis of Form 26AS…
CA made a big mistake by withdrawing appeal against the penalty order on winning quantum appeal. CIT(A) was not justified…