Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

Linc Pen & Plastics Ltd. Versus DCWT, CC VII, Kolkata

2015 (10) TMI 26 - ITAT KOLKATA

Levy of penalty u/s 18(1)(c) of the Wealth Tax Act 1957 - assessee had shown motor car in the depreciation schedule but did not file the wealth tax - Held that:- Assessee has filed returns prior to notices issued u/s. 17 of the Act. We noted that the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

or illegal in the order of CIT(A) who confirmed the penalty in each of the case. It is not the case of the assessee that the assessee was not aware of about this provision of Wealth Tax Act as the assessee was not earlier been assessed to Wealth Tax .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Per P K Bansal, Accountant Member Since all four appeals filed by the assessee involved common issue as well as common ground, therefore, all these appeals are decided by this common order and all these appeals arising out common order of Commission .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

o as 'the Act'). 3. Brief facts are that Assessing Officer noted that assessee had shown motor car in the depreciation schedule but did not file the wealth tax and accordingly he issued notices u/s. 17 of the Act upon the assessee on 13-09- 2 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

6,304/- 2007-08 Rs.61,95,400/- Rs.61,95,400/- Rs.24,388/- 2008-09 Rs.52,31,800/- Rs.52,31,800/- Rs.14,920/- 2009-10 Rs.60,24,700/- Rs.60,24,700/- Rs.12,656/- The AO issued show cause notice to the assessee and ultimately levied of penalty u/s. 18(1)& .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ere invalid. When the matter went before CIT(A), he confirmed the order of AO. 4. We have heard rival submissions and carefully considered the same along with the orders of the Tax Authorities Below. No doubt, the assessee has filed returns prior to .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version