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Income Tax - Highlights / Catch Notes

Home Highlights January 2014 Year 2014 This

Deletion of Penalty u/s 271AAA - the assessee had paid tax along ...

Income Tax

January 17, 2014

Deletion of Penalty u/s 271AAA - the assessee had paid tax along with interest on undisclosed income admitted during the course of search - penalty deleted - AT

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  2. Penalty 271AAA(2) - disclosure of undisclosed income - money found during search u/s 132 - assessee has fulfilled the requirement of sub-section (2) of section 271AAA -...

  3. Penalty u/s 271AAA - There will not be any penalty to the extent of undisclosed income admitted during search - immunity available under sub-clause (2) of section 271AAA

  4. Deletion of LTCG as non-genuine - transactions in shares - Deletion of undisclosed commission paid for arranging accommodation entries - assessee proves that...

  5. Penalty u/s 271AAA - Search and seizure - Undisclosed income - assessee could not be denied the immunity under section 271AAA(2) only because entire tax, along with...

  6. Penalty u/s 271AAA - sufficient compliance - the language employed in the second exception under Explanation 5 to section 271(1) is, “pays the tax together with...

  7. Penalty order u/s 271AAA - disclosure of additions income pursuant to search u/s 132 - In the present case the assessee has disclosed the entire source of income and...

  8. Penalty - service tax is paid along with interest before issuance of SCN - applicability of Section 73(3) of the FA - levy of penalty waived for more than one reason - AT

  9. Penalty u/s 271AAA - the assessee could not be denied the immunity u/s 271AAA(2) only because entire tax, along with interest, was not paid before filing of income tax...

  10. Levy of penalty u/s 78 - once the taxes have been paid, along with interest, the entire proceedings under the Finance Act, 1994 are concluded.

 

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