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Income Tax - Highlights / Catch Notes

Home Highlights March 2014 Year 2014 This

Penalty u/s 271(1)(c) - it is one of the rare cases wherein even ...

Income Tax

March 6, 2014

Penalty u/s 271(1)(c) - it is one of the rare cases wherein even working of section 50C cannot really be effective at all inasmuch as the very asset, which was required to be valued by DVO, was demolished before valuation could take place - penalty deleted - AT

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  2. Penalty u/s 271 (1)(c) - capital gain assessed as per the provisions of section 50C/2(14) - The direction of CIT(A) is clear that penalty cannot be imposed on the basis...

  3. Levy of penalty u/s 271(l)(c) - additional income disclosed due to search and survey at the premises - wherein the returned income has been accepted, penalty cannot be imposed - AT

  4. Levy of penalty u/s 271(1)(c) - failure to take stamp duty value of property u/s 50C being land and building for sale - From a clear distinction between sale...

  5. Levy of penalty u/s 271 (1)(c) - Effect of amendment to clause 3 (iii) and Explanation 4 to section 271(1)(c) - SC confirmed the order of HC imposing penalty wherein it...

  6. Penalty u/s 271(1)(b) - refusal to answer the notice u/s 142(1) - compliance to tax investigation - if the assessee really had no connection with such accounts, no...

  7. 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...

  8. Penalty U/s 271(1)(c) - penalty proceedings are distinguished and separate and assessee can raise fresh plea in the penalty proceedings, which has been done in this case - AT

  9. Penalty u/s 271(1)(c) deleted – the act of the assessee was bonafide even though the assessee may have failed to substantiate its claim that the amount was capital receipt - HC

  10. Where there is no evidence of receipt of consideration over and above declared by the assessee and the assessment is either completed u/s 143(3) or even u/s 148 based on...

 

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