Home Highlights July 2013 Year 2013 This

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1. Penalty u/s 271(1)(c) - Making an incorrect claim in law cannot tantamount to furnishing inaccurate particulars under Section 271(1)(c) of the Act. Mere making of a...

2. Penalty levied u/s 271(1)(c) - disallowance of the deduction claimed by the assessee u/s 35 - AO has not brought out his case as to why penalty u/s.271(1)(c) of the Act...

3. Penalty levied u/s 271(1)(b) - assessee had failed to provide full submissions - penalty levied by the Assessing Officer u/s 271(1)(b) of the IT Act deserves to be...

4. Penalty u/s 271(1)(c) - disallowance of excessive depreciation - cost of acquisition of wind mill - whether or not assessee is entitled to the benefit under proviso to...

5. Penalty u/s.271(1)(b) - no compliance to notice u/s 142(1) - The AO levied the penalty for non-compliance of notice dated 13.06.2016, however, there is no reference of...

6. Levy of Penalty u/s 271(1)(c) in case of voluntary surrender of income - disallowance of claim of loss - Assessee offered the loss voluntarily to avoid litigation and...

7. Penalty u/s 271(1)(c) - disallowance of interest expenditure - The findings of the AO may be sufficient to make disallowance in quantum on the theory of preponderance of...

8. Penalty u/s 271(1)(c) on addition made u/s 68 - the assessee has given sufficient explanation though not found satisfactory by AO - No merit in levying penalty.

9. Imposition of penalty u/s 271(1)(c) – mere admission of appeal by the High Court is sufficient to debar the penalty levied u/s.271(1)(c) of the Act - AT

10. Penalty u/s 271(1)(c) - when we examine penalty levied on account of salary disallowance AO has merely made adhoc addition by way of guess work and the AO has not...

11. Penalty u/s 271(1)(b) - non compliance of notices u/s 142(1) - the AO was not having the present address of the assessee - when the notice issued u/s 142(1) was not...

12. Penalty u/s 271(1)(c) - failure on the part of legal heir of the deceased assessee to explain the source of part of the deposits - The mere failure on the part of the...

13. Penalty u/s 271(1)(c) - A mere making of the claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars regarding the income...

14. Levy of penalty u/s 271(1)(c) - weighted deduction u/s 35(1)(ii) claimed in the original return and later in the return filed in response to notice u/s 148 of the Act,...

15. Penalty u/s 271(1)(c) - Penalty order did not specify the particular limb under which penalty u/s 271(1)(c) is levied. AO has not specified that penalty is either levied...