Home Highlights May 2013 Year 2013 This

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1. Penalty u/s 271D / 271E - violation of provisions of Sec.269SS and 269T - basis of presumption u/s 132(4A) - Period of limitation - The Tribunal found that the penalty...

2. Claim of interest on refund of "penalty amount and interest paid thereon" - Petitioner had paid interest on outstanding amount of penalty. On deletion of penalty,...

3. AO initiated the penalty u/s 271E for violation of sec. 269TT, but levied penalty u/s 271D for violation of the provisions of sec. 269SS. From this conduct of the AO, it...

4. Penalty u/s. 271E - violation of the provisions of Section 269T - Repayment of monthly instalment in cash to Tata Finance Corporation - as the assessee had not only...

5. Penalty u/s 271E - contravention of Section 269T - repayment by journal entries - penalty imposed u/s 271E deserves to be deleted - HC

6. Penalty u/s 271E - assessee has repaid loan in cash during the year under consideration in violation of Section 269T - The assessee is since deceased and thus the...

7. Refund claim towards excess custom duty paid - same amount paid twice through oversight and bonafide mistake - The petitioner is entitled to get refund along with...

8. Violation of section 269SS and 269T - cheque discounting business - The assessee had to discount the cheque for cash - There was no question of levying any penalty under...

9. Penalty levied u/s 271D and 271E - accepting deposits by way of journal entries - assessee had accepted/paid loans in contravention of provision of section 269SS/269T -...

10. Penalty u/s.271E - violation of provision of section 269T - the assessee has not explained the reason why the said amount has been deposited in the bank account of Shri...

11. Penalty u/s 271D & 271E - default committed in violation of section 269SS & 269T - Reliance on search proceeding documents - Transactions being mere book entries -...

12. Penalty u/s 271D & 271E - allegation of cash loan having been taken/repaid - The ITAT underscored the principle that penalties under Sections 271D and 271E for...

13. Levy of penalty u/s. 271E - violation of provisions of Section 269T - If identity of person is proved and genuineness of payment is not doubted by the AO then ontentions...

14. Levy of penalties u/s 271D and 271E for the violation of sections 269SS and 269T, respectively - The Tribunal, after reviewing precedents from the Supreme Court and...

15. Penalty u/s 271E - violation of the provision of section 269T - assessee has repaid the loans and advances received from various creditors otherwise than by crossed...