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 →

The Commissioner Of Income Tax-Ii, Kanpur Versus M/s J.K. Syntehtics Ltd.

2016 (1) TMI 319 - ALLAHABAD HIGH COURT

Penalty under Section 271 (1) (c) - Held that:- In the instant case, the assessee has disclosed all the income and claimed certain deductions, which was disallowed. The mere fact that certain deductions were disallowed does not mean that the assessee .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

bonafide. Such appreciation of the assessee's statement makes it apparently clear that there had been no occasion for the assessing officer to impose penalty. - Decided in favour of assessee - INCOME TAX APPEAL No. - 340 of 2006 - Dated:- 4-12-2 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e sought. The assessing officer sustained certain additions and deductions claimed by the assessee and rejected certain additions and deductions and added them to the assessee's income. Based upon the additions made in the income penalty proceedi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

0 lacs. The assessee filed an appeal, which was allowed and the order of penalty was set-aside holding that the assessee had given a valid satisfactory explanation and stand of the assessee was bonafide and therefore, no penalty could be imposed. 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

. Agrawal, learned counsel for the assessee, we find that the essential requirement for imposition of penalty under Section 271 (1) (c) is that there must be concealment of the particulars of the income. In the instant case, the assessee has disclose .....

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