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Income Tax Case Laws - Section: 274

Cases for Section: 274

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Showing 1 to 15 of 247 Records

2015 (1) TMI 521 - ITAT MUMBAI

M/s. Etco Telecom Ltd. Versus ACIT Central Circle-35, Mumbai

Penalty imposed u/s 271(1)(c) read with section 274 - assessment u/s 153A - revenue aggrieved by cancelling the penalty on the disallowances made and deleted on the additional profit at the rate of 1% of the sales amounting to ₹ 38,91,422/- - H ......

2015 (1) TMI 601 - ITAT LUCKNOW

M/s. Drosia Constructions Pvt. Ltd. Versus ACIT Central Range Lucknow

Penalty levied under section 271E - penalty order challenged as barred by limitation - repayment of loan or advance in contravention of the provisions of section 271E - Held that:- In the absence of any date of reference by the AO to the JCIT for ini ......

2013 (11) TMI 369 - ITAT MUMBAI

Shri Samson Perinchery Versus ACIT-Central Circle-18 & 19, , Mumbai -20

Notice of penalty under wrong provision of Act – Penalty to be levied u/s 274 of the act for ‘furnishing of inaccurate particulars’ and the notice was issued for penalty u/s 271(1)(c) for concealment of Income – In this case, operation u/s 132 of the ......


Lajpat Rai (HUF), Satya Pal Versus The Commissioner of Income Tax and Other

Penalty for return not filed under the bonafied belief - Assessee main source of income is one-half share from M/s Haryana Steel Fabricator, Faridabad, in which he is a partner - Return in the case of the firm was received on 30.09.1979 and the asses ......



Notice of demand u/s 156 along with notice u/s 274 read with Section 271 - Amount recovered from bank - Period of statutory period for deposit of demand reduced from 30 days to 7 days - Held that:- the very object of obtaining permission of the super ......

2013 (12) TMI 191 - ITAT AHMEDABAD

GE India Industrial (P.) Ltd. Versus Commissioner of Income-tax (A) -IV, Baroda

Stay of penalty proceedings u/s 271(1)(c) – Held that:- As per the provisions of Section 275(1)(a) of the Act Assessing Officer cannot pass an order imposing penalty u/s 271(1)(c) of the Act till relevant assessment is subject matter of appeal before ......

2012 (11) TMI 757 - ITAT MUMBAI

Bennett Coleman & Co. Ltd. Versus ACIT 1(1), Mumbai

Procedure u/s 274 - levy the penalty 271(1)(c) – On the date of hearing AO issue penalty order u/s 274 on the same day after getting approval from Add. CIT – Assessee contended that Add. CIT did not apply his mind and acted in a mechanical way in giv ......

2012 (7) TMI 585 - ITAT MUMBAI

Additional Director of Income-tax (International Taxation) - 2(1) Versus R Liners Ltd.

Penalty u/s 271(1)(c) - Penalty levied on both Principal and Agent - shipping profits were claimed exempt from tax in India - DTAA between India and Mauritius - Held that:- Section 160(1)(i) provides that in respect of income of the non-resident, th ......

2012 (6) TMI 291 - ITAT MUMBAI

Hongkong & Shanghai Banking Corpn. Ltd. Versus Deputy Director of Income-tax (Intl. Tax), 3(1)

Penalty u/s 271(1)(c) - foreign bank - dis-allowance of loss on ready forward transactions on ground of them being illegal - alleged concealment of income - Held that:- Dis-allowance made as speculative loss cannot be considered alone as concealment ......

2013 (8) TMI 439 - ITAT CUTTACK

Assistant Commissioner of Income-tax Versus Dr. Tulsi Prasad Mohapatra

Validity of assessment orders - Assessment orders server after expiry of period of limitation - the assessment orders in these cases though made on December 31, 2009, those were served on the assessee on May 10, 2010, i.e., after 130 days from the da ......

2011 (6) TMI 458 - ITAT, CHENNAI

Smt. S. Sudha Versus Assistant Commissioner of Income-tax

Penalty u/s 271(1)(c) r.w.s. 274 - modification of the computation u/s 54 after reducing the items of advocate fees, brokerage, tiles laying, white wash, electrical rewiring and wood work not proved by assessee - Held that:- The property was sold to ......

2011 (5) TMI 641 - Gujarat High Court

Chhaganlal S Uteriya Versus Income-tax Officer

Penalty u/s 271(1)(c) - failure to file return for AY 94-95 within time limit prescribed - notice u/s 148 and 142(1) issued on 10.03.97 and 15.10397 resp. - failure to respond to SCN and reminders - best judgment assessment - Held that:- The only eve ......


Chhaganlal Suteriya Versus Income-tax Officer, 1

Penalty under section 271(1)(c) of the Income Tax Act - conditions for applicability of Explanation 3 to section 271(1) are cumulative and each of the conditions has to be established for the purpose of invoking the said provision - all the condition ......

2010 (12) TMI 247 - ITAT, MUMBAI

United Liner Agencies (Stevedores) Versus Dy. CIT

Review - The assessee is a partnership firm engaged in the business of stevedoring - It claimed to have paid commission of Rs. 1,71,49,967 during the year to various parties which were 14 in number - It claimed to have paid commission of Rs. 1,71,49, ......


M/s Aggarwal Oil & General Mills Ltd. Versus The Commissioner of Income Tax

Penalty - Concealment of Income - Learned counsel for the assessee submitted that mere fact that addition was sustained by rejecting the plea of the assessee about loss of bardana, was not enough to uphold the penalty based on the judgment of this Co ......

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