Home Highlights March 2019 Year 2019 This

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1. Penalty order u/s 271AAA - disclosure of additions income pursuant to search u/s 132 - In the present case the assessee has disclosed the entire source of income and...

2. Deletion of Penalty u/s 271AAA - the assessee had paid tax along with interest on undisclosed income admitted during the course of search - penalty deleted - AT

3. Penalty 271AAA(2) - disclosure of undisclosed income - money found during search u/s 132 - assessee has fulfilled the requirement of sub-section (2) of section 271AAA -...

4. Penalty levied u/s 271AAB - Undisclosed income - Assessee has neither made any surrender of any undisclosed income during the search action nor the penalty has been...

5. Penalty levied by the AO u/s. 271AAB r.w.s. 274 - levy penalty of 30% on undisclosed income - the reasons given by the AO to levy 30% penalty on undisclosed income is...

6. Penalty u/s 271AAA - Search and seizure - Undisclosed income - assessee could not be denied the immunity under section 271AAA(2) only because entire tax, along with...

7. Penalty u/s 271AAA(2) - assessee has admitted to have earned unaccounted commission income during the course of search proceedings - he has paid due taxes along with...

8. 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...

9. Loss of immunity from Penalty u/s. 271AAA - Delay in payment full tax as per the order of Settlement Commission (ITSC) - DR in argument mentioned that the assessee had...

10. Penalty u/s 271AAA - defective notice - if there is no clarity in the stand of the Revenue for initiation of penalty u/s 271AAA, whether it is for failure of the...

11. Claim of bad debts against the undisclosed income found during search not allowed - AT

12. Once penalty U/s 271AAA of I.T. Act has been levied in respect of undisclosed income, the AO was in error of law prescribed U/s 271AAA(3) of I.T. Act, in imposing...

13. Penalty u/s 271AAA - immunity from penalty if tax and interest has been paid on undisclosed income surrendered - No time limit for payment - no penalty if tax paid...

14. Penalty u/s. 271AAB - commodity profit as falling in the ken of the 'undisclosed income' - since the amount on which penalty is levied has been found at the time of...

15. Penalty @ 10% u/s 271AAA - undisclosed income - there was no other undisclosed income to identify with the seized materials/Panchanama, the assessee while filing the...