Home Highlights August 2017 Year 2017 This

You may also like:

1. Penalty u/s.271FA - delay filing on AIR - appellant was having reasonable cause for delay filing on AIR and in our opinion benefit of section 273B should be given to the...

2. Penalty levied u/s 271G - Assessee has failed to maintain the information as per Rule 10D (1) (d), (g), (h) and (m) of Income Tax Rules - ‘reaso-nable cause’ under...

3. Levy of penalty u/s 271D - Cash transaction in connection with violation of section 269SS - reasonable cause - Sale of residential flats to an agriculturist - cash sale...

4. Penalty u/s 271C - Reasonable cause - In the substance of this case after the decision of ITAT, the disallowance was sustained but at the same time the assessee was...

5. Penalty u/s 271D - violation of section 269SS - Reasonable Cause u/s 273B - The claim of the assessee is that receipt of money by way of cash itself is a reasonable...

6. Penalty u/s 271FA - not filing the AIR for the relevant AY - Prior to 01.04.2015 - the assessee being a Souhardha Sahakari, there was ambiguity as to whether...

7. Penalty levied u/s. 271D r.w.s. 273B - reasonable cause for the assessee to accept loan over ₹ 20,000/- in cash - levy of penalty confirmed.

8. Levy of penalty u/s 272A(1)(c) - failure to comply with summons u/s 131(1A) - no reasonable cause for non-compliance to the notice issued u/s 133(6) - in absence of any...

9. Penalty u/s 271FA r.w.s. 274 - non filing of AIR return without considering reasonable cause - penalty will be justified and it will be a message to the government...

10. Levy of penalty u/s 271B - Sufficient / reasonable cause for the delay in filing the tax audit report. - The appellant argued that the delay was due to the late receipt...

11. Penalty u/s 272A (2) (k) - assessee has failed to submit the quarterly TDS statements in Form No. 26Q - The reasonable cause of ignorance of technical knowledge lack of...

12. Penalty u/s 271FA - assessee responded to the notice by furnishing the ‘Nil’ transactions - in the absence of reportable transaction, the assessee is not obliged to file...

13. Penalty for failure to furnish annual information return - no appeal is provided under the Act against the penalty levied under section 271FA of the Act. Hence, the...

14. Penalty u/s 271FA – Protection u/s 273B - Proper information not furnished by assessee – delay in furnishing the requisite AIR information by the appellant - bonafide...

15. Levy of penalty - Reasonable cause - non filing of ITR - failure to comply with notice u/s 142(1) - it is seen that the explanation offered by the assessee have been...