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1. Levy of penalty u/s 271(1)(c) - disallowance of bogus purchases by applying the profit rate - Once there is no reason to disbelieve the sales made by the assessee and...

2. Penalty u/s 271(1)(c) - estimation of income - bogus purchases - penalty u/s 271(1)(c) of the Act cannot be levied where the addition is made on estimate basis - AT

3. Penalty u/s 271(1)(c) - Estimation of income on bogus purchases - Once the quantitative details of purchases and the corresponding quantitative sales have not been...

4. 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...

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. MAT is paid, additions were made to regular income, penalty not levied – 115JB, 271(1)(c)

7. Levy of Penalty u/s. 271(1)(c) - The ITAT ruled that since there was no variation between the returned and assessed income, there was no concealment of income by the...

8. Levy of penalty u/s 271(1)(c) - Once, all the documentary evidences were produced before the AO and sales are no doubted, it is doubtful, whether the purchases are bogus...

9. The ITAT Mumbai addressed two key issues in the case. Firstly, regarding the penalty u/s 271(1)(c), the tribunal held that the absence of a tick mark on the notice did...

10. Penalty levied u/s. 271(1)(c) - Income disclosed by the assessee in the Return of Income which is not part of Regular Accounts - CIT(A) directed the AO that levy penalty...

11. Levy of penalty u/s 271(1)(c) - assessee has surrendered and agreed for the additions at the assessment stage merely to buy peace of mind and to avoid further litigation...

12. Levy of penalty u/s 271(1)(c) - disclosure of additional income consequent to survey operation - the explanations of the assessee that he has declared additional income...

13. Penalty u/s 271(1)(c) - additional income was declared in survey u/s 133A - date of filing of return u/s 139(1) had not expired - The fact of “concealment of income” and...

14. Penalty 271(1)(c) - additions on account of donation and charity, and on account of loss on sale of assets, which were debited to the profit and loss account - The ITAT...

15. 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...