Home Highlights July 2013 Year 2013 This

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1. Penalty u/s. 271(1)(c) - If AO accepted the revised return, there was no question of making inadmissible claim of deduction u/s 10B in such revised return. In fact,...

2. Penalty levied u/s.271(1)(c) - revised return filed - assessee has adopted the recourse of avoiding litigation, therefore, revised the return to buy peace of mind - no...

3. Penalty u/s 271(1)(c) - employer issued revised TDS certificate with additional salary u/s 192 - Assessee filed the income tax return based on the old TDS certificate...

4. Levy of penalty u/s 271(1)(c) - Filing of revised return offering an additions sum after initiating enquiry proceedings after the expiry of permissible period - Once we...

5. Penalty u/s 271(1)(c) - additional income offered by assessee by way of LTCG in revised return - it is not in dispute that the assessee filed revised return before...

6. Penalty u/s 271(1)(c) - undisclosed foreign income - revised return filed u/s 153A after search - the same income has been accepted which was returned by the assessee,...

7. 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,...

8. Levy of penalty u/s 271(1)(c) - Capital gain on sale of property - Allegation of the AO that, return of income has not been filed voluntarily - There was a reasonable...

9. Penalty u/s 271(1)(c) - additional income was declared in survey u/s 133A - date of filing of return u/s 139(1) had not expired - The fact of “concealment of income” and...

10. Penalty levied u/s 271(1)(c) - difference in original return of income and revised return - Had it been the intention of the assessee to make a full and true disclosure...

11. Penalty 271(1)(c) - additions on account of donation and charity, and on account of loss on sale of assets, which were debited to the profit and loss account - The ITAT...

12. Penalty u/s 271(1)(c) - A mere making of the claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars regarding the income...

13. Penalty u/s 271(1)(C) - reopening of assessment u/s 147 after filing of revised return - Revised return was not filed in response to notice issued u/s.148 and therefore,...

14. Penalty u/s 271(1)(c) - income voluntarily offered before commencement of assessment proceedings - the time limit for furnishing the revised return of income u/s 139(5)...

15. Penalty u/s 271(1)(c) - Making an incorrect claim in law cannot tantamount to furnishing inaccurate particulars under Section 271(1)(c) of the Act. Mere making of a...