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…
Concealment Penalty u/s 271(1)(c) for claiming capital loss as business loss. No Penalty when the assessee disclosed all the material…
CIT revisional order setting aside dropping of penalty proceedings u/s 271(1)(c) by the AO was quashed by ITAT as AO…