Levy of penalty u/s 271(1) (c) - undisclosed investment - Since ...

Income Tax

May 24, 2023

Levy of penalty u/s 271(1) (c) - undisclosed investment - Since the assessee could not explain the source of the purchase of the property and the payment towards interiors of villa the additions were made u/s. 69B confirmed - The addition so made was not voluntary but on being confronted during the assessment proceedings on the basis of seized material. - Levy of penalty confirmed - AT

View Source

← Previous Next →

Levy of penalty u/s 271(1) (c) - undisclosed investment - Since ...

Income Tax

May 24, 2023

You may also like:

Penalty u/s 271(1)(c) - the fact that the assessee and his son have declared the undisclosed income in their individual return of income and have paid taxes but capital...

Penalty u/s 271(1)(c) - failure on the part of legal heir of the deceased assessee to explain the source of part of the deposits - The mere failure on the part of the...

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...

Penalty levied u/s. 271(1)(c) - Suo-moto declaration of undisclosed assets located outside India under section 59 of the Black Money (Undisclosed Foreign Income and...

Penalty levied u/s 271(1)(b) - failure to comply with the notices issued by the A.O u/s 142(1) - the non-compliance on the part of the assessee is due to the reason of...

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...

Levy of penalty u/s 271(1)(c) - weighted deduction u/s 35(1)(ii) claimed in the original return and later in the return filed in response to notice u/s 148 of the Act,...

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

Penalty levied u/s 271(1)(b) - undisclosed investment u/s 69A - ex parte assessment order - We have no hesitation in confirming the penalty levied under section...

Penalty levied u/s 271(1)(c) - the assessee has given evidences, on which no findings was given by Ld. CIT(A), in our view, the assessee reasonably explained the facts...

Penalty levied u/s 271(1)(c) - disallowance of the deduction claimed by the assessee u/s 35 - AO has not brought out his case as to why penalty u/s.271(1)(c) of the Act...

Penalty proceedings u/s 271(1)(c) - Failure of the assessee to explain the source of cash deposit in the bank account - burden of proof - The ITAT acknowledged the...

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...

Penalty u/s 271(1)(C) - Unexplained Expenditure on Stamp Duty and Registration Charges made out of Undisclosed Income - There was no dishonest intent of the assessee...

Penalty u/s 271(1)(c) - when the assessee has explained the entries with necessary evidences and said explanation is not found to be false, then merely for the reason...

Quick Updates: