Penalty under section 271D - Violation of bar provided by ...

Income Tax

August 17, 2013

Penalty under section 271D - Violation of bar provided by Section 269SS - Receipt of cash in excess of Rs. 20,000/- - there was no reasonable cause inasmuch as the story set up by the assessee to arrange the money in hurry to save the honour of the family was not proved, the assessee would not get the benefit of Section 273B of the Act - HC

View Source

← Previous Next →

Penalty under section 271D - Violation of bar provided by ...

Income Tax

August 17, 2013

You may also like:

Capital gain computation - Fair Market Value as on 01.04.1981 u/s 55(2)(b)(i) - the fair market value of the impugned immovable property should be adopted at Rs....

Seizure of Gold Bars - Confiscation - Penalty u/s 112(b) - The case involves the interception of the Appellant carrying 17 pieces of gold of foreign origin in Kolkata....

Addition made to the income of the assessee on account of cash deposit remaining unexplained - addition u/s. 69A - having accepted the fact that the assessee had...

Provisional release of detained goods - The department's insistence on a 100% bank guarantee of Rs. 25,00,000/- was deemed arbitrary and onerous, especially considering...

Levy of penalty u/s 112(a) and u/s 114AA of the Customs Act, 1962 - allegation of abetment in undervaluation - evasion of Customs Duty by several syndicates of crane...

Jurisdiction of Superintendent to pass the order - Monetary limit - The High Court noted that, the circular dated 9.2.2018 limited the power of the Superintendent,...

Demand Interest u/s 201(1A) - Non deduction TDS u/s 194IA - As per the sale deed the details of the sellers / transferors of the said property and in fact the sellers...

Initiation of CIRP u/s 9 - time limitation - threshold limit of amount claimed - With respect to 234 invoices, which are payable within 30 days of the invoices, 224...

Disallowance u/s 40A(3) - Payment in cash in excess of Rs. 20,0000 - exception under rule 6DD - purchase of marble chips and alluminium product cannot be said to be an...

Penalty for violation of Section 15HB of SEBI Act, 1992 - justification for the Tribunal to reduce the penalty below Rs. 1,00,000/- which is the minimum as permissible -...

CIR process - Petitioner and the Debtor entered into Power Purchase Agreement for supply of 20,00,000 units - since no agreement between the parties obligating the...

Penalty imposed u/s 271A - Failure to maintain books of accounts - no income from business or profession received by the assessee which exceeds Rs.1,20,000/-. Therefore,...

Maintainability of appeal of the assessee - threshold amount involved in the appeal - disputed amount is less than Rs.2,00,000/- - the appellant failed to appeared for...

Disallowance u/s 40A(3) – purchase of bricks for Rs. 2,52,000/- though made in cash but each voucher was for below Rs. 20,000/- section 40A(3) will not apply - AT

Penalty for cash loan/ transactions against primary co-operatives - Section 269SS / 269T - Relief given to Primary Agricultural Credit Societies (“PACS”) and Primary...

Quick Updates: