Home Highlights January 2017 Year 2017 This

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1. Penalty u/s 271(1)(c) - Explanation is bonafide is, we find, supported by the fact that during assessment proceedings the assessee, realizing his mistake even before...

2. Levy of penalty u/s 271(1)(c) - Capital gain on sale of property - Allegation of the AO that, return of income has not been filed voluntarily - There was a reasonable...

3. Penalty u/s.271AAB - Belated filing of regular return after search - Penalty cannot be levied u/s.271AAB of the Act, in respect of income disclosed in regular return of...

4. Penalty u/s 271(1)(c) - disclosure of income during survey - had it been the intention of the appellant to disclose the income voluntarily then the assessee would have...

5. Penalty u/s. 271(1)(c) - income disclosed by the assessee u/s 153A - The mere fact that the assessee has filed revised returns disclosing higher income than in the...

6. Penalty u/s 271(1)(c) under Explanation 5A - no return u/s 139(1) - return filed u/s 153A disclosing Capital Gain which was accepted - it is neither a case of bonafide...

7. Penalty u/s 271 (1)(c) - When interest income itself is not disclosed, there is no question of holding that all the facts relating to the interest income and material to...

8. Penalty u/s. 271(l)(c) - Voluntary disclosure of income or not - revised return of income in which the assessee disclosed details of sale of immovable properties - It is...

9. Penalty u/s 271(1)(c) - proof of contravention of provisions provided under explanation 5A to section 271(1)(c) - On reference to the provisions of explanation 5A to...

10. Penalty u/s 271(1)(c) - survey u/s 133A was carried out much prior of date of filing of return u/s 139(1) - amount admitted in survey has offered in return - When the...

11. Penalty u/s 271(1)(c) - income voluntarily offered before commencement of assessment proceedings - the time limit for furnishing the revised return of income u/s 139(5)...

12. Deduction u/s. 80(P)(2)(a)(i) - Due date for filing the return of income u/s 139(1) - The assessee cannot be denied deduction under Section 80P(2)(a)(i) of the Act if...

13. Penalty u/s 271(1)(c) - There cannot be a penalty merely on the basis that the assessee has disclosed income after receiving the notice from the ADIT and the income was...

14. Charging of interest u/s.234C - Interest for deferment of advance tax - whether to charge interest u/s.234C only on the income disclosed in the return of income filed...

15. Levy of penalty u/s 271(1)(c) - Even if some discrepancies were found during the survey resulting in surrender of income by the assessee, once the assessee has declared...