Penalty levied under Section 271(1)(c) – merely because the ...

Taxpayer Non-Appeal Doesn't Imply Income Concealment or False Info u/s 271(1)(c) Penalty.

July 24, 2013

Case Laws Income Tax AT

Penalty levied under Section 271(1)(c) – merely because the assessee did not file the appeal against the assessment order, it cannot be presumed that there was any concealment of income or furnishing of wrong particular - AT

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Penalty levied under Section 271(1)(c) – merely because the ...

Taxpayer Non-Appeal Doesn't Imply Income Concealment or False Info u/s 271(1)(c) Penalty.

July 24, 2013

Case Laws Income Tax AT

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Penalty for concealment of income Under Section 271(1) (c) - Article

Levy of Penalty u/s. 271(1)(c) - The ITAT ruled that since there was no variation between the returned and assessed income, there was no concealment of income by the...

Voluntary surrender of income by assessee cannot be considered concealment. AO failed to prove concealment, merely concluded voluntary surrender as concealment....

Penalty u/s 271(1)(c) - Penalty order did not specify the particular limb under which penalty u/s 271(1)(c) is levied. AO has not specified that penalty is either levied...

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...

Penalty u/s 271(1)(c) was imposed despite the assessee withdrawing the exemption claim u/s 10(38) for Long Term Capital Gain (LTCG) on sale of penny stocks and offering...

To impose penalty u/s 271(1)(c), willful concealment is not an essential ingredient - HC

Penalty u/s. 271(1)(c) - recording of specific finding or not? - In para 7 of the penalty order u/s. 271(1)(c), the Assessing Officer held that it is found to be a fit...

Penalty u/s 271(1)(c) - wrong claim of set off loss - explanation was not found false - no iota of evidence of concealment of any fact relating to particulars of income...

Penalty levied u/s 271 (1) (c) - As the appellants had disclosed the income, after detection by the department and as per the terms of settlement, the assessing officer...

Penalty u/s 271(1)(c) - Penalty under section 271(1)(c) of the Act is leviable to be imposed only where the assessee has concealed its particulars of income or furnished...

Validity of the penalty u/s 271(1)(c) or 158BFA - AO has levied the penalty under section 271(1)(C) of the Act by observing that the assessee has concealed/furnished...

Penalty u/s 271(1)(c) - AO has levied penalty u/s 271(1)(c) only invoking the Explanation 5A below section 271(1)(c) and not held the assessee liable for concealment of...

The crux pertains to levying penalty u/s 271(1)(c) for alleged furnishing of inaccurate particulars or concealment of income regarding capital gains computation on sale...

The Appellate Tribunal addressed the issue of penalty u/s 271(1)(c) concerning the correct classification of income. The Assessing Officer treated the income as 'income...

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