Home Highlights February 2014 Year 2014 This

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1. 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...

2. Penalty u/s 271(1)(c) - the claim of the assessee was found to be false claim and explanations offered by the assessee were found by the Revenue to be false and clearly...

3. Penalty u/s 271(1)(c) - disallowance of excessive depreciation - cost of acquisition of wind mill - whether or not assessee is entitled to the benefit under proviso to...

4. Validity of confirmation of penalty u/s 271(1)(c) – ssessee miserably failed to offer an explanation for the cash credit raised in the form of share application money -...

5. Penalty u/s 271(1)(c) - unexplained investment u/s.69 - The penalty can be justified only if assessee fails to offer an explanation or his explanation is found to be...

6. Explanation versus bona finde explanation versus proper disclosure - Penalty under section 271(1)(c) - AT

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) in case of voluntary surrender of income - disallowance of claim of loss - Assessee offered the loss voluntarily to avoid litigation and...

9. Penalty u/s 271(1)(c) - The assessee has not failed to offer any explanation and the explanation of the assessee was not found to be false & has made bona-fide...

10. Penalty u/s 271(1)(c) - accepted quantum addition - in penalty proceedings he offer explanation that the jewellery found during search were already offered to tax in the...

11. Penalty u/s 271(1)(c) - failure on the part of legal heir of the deceased assessee to explain the source of part of the deposits - The mere failure on the part of the...

12. Imposition of penalty u/s 271(1)(c) – department was justified in imposing the penalty u/s 271(1)(c) of the Act, as the explanation offered by the assessee is no...

13. Penalty u/s 271(1)(c) - a disproved explanation of the assessee would undoubtedly lead to levy of penalty under Sec. 271(1)(c), however, the same would not be applicable...

14. Penalty u/s 271(1)(c) - proof of contravention of provisions provided under explanation 5A to section 271(1)(c) - On reference to the provisions of explanation 5A to...

15. 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...