Home Highlights November 2013 Year 2013 This

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1. Penalty u/s.271(1)(c) or penalty u/s.271AAA - The provisions of Section 271AAA(3) of the Act specifically excludes the provisions of Section 271(1)(c) of the Act for the...

2. Initiation of penalty proceeding u/s 271(1)(c) - ndisclosed income as referred under sub-Section 1 of Section 271AAA - Impugned penalty proceeding has been initiated and...

3. 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...

4. Levy of penalty u/s 271AAA - concealed income on account of excess claim of depreciation - A.O has merely mentioned one line imported from section 271(1)(c) of the Act...

5. Levy of Penalty u/s 271AAA or u/s 271(1)(c) - whether addition is made on estimation basis or on the basis of certain evidences, fact remains that the additions made in...

6. Penalty u/s 271(1)(c) levied - In the assessee’s case, the AO has not given any finding in assessment order that the assessee had concealed any income or furnished...

7. Penalty u/s 271(1)(c) OR 271AAA - Addition of undisclosed income found during search proceedings - No infirmity in the order of the ld.CIT(A) holding that the correct...

8. Penalty u/s. 271(1)(c) - unexplained share application money and unsecured loans - No incriminating material was found during the curse of search relating to the alleged...

9. Penalty u/s 271(1)(c) - accrual of income for assessee society - In assessee`s appeal assessing officer treated contribution towards welfare Fund and Hospital Fund as...

10. 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...

11. 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...

12. Penalty u/s 271(1)(c) - Penalty under section 271(1)(c) of the Act is leviable to be imposed only where the assessee has concealed its particulars of income or furnished...

13. Validity of the penalty u/s 271(1)(c) or 158BFA - AO has levied the penalty under section 271(1)(C) of the Act by observing that the assessee has concealed/furnished...

14. Penalty levied u/s 271(1)(c) - Basis adopted during the assessment proceedings cannot be used in the penalty proceedings without following the due process. As such, to...

15. Penalty u/s 271AAA or 271(1)(c) - The penalties u/s 271(1)(c) and 271AAA are attracted in different situations and both are mutually exclusive. Having initiated the...