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Income Tax - Highlights / Catch Notes

Home Highlights March 2014 Year 2014 This

Penalty u/s 271(1)(c) of the Act – Inaccurate particulars ...

Income Tax

March 1, 2014

Penalty u/s 271(1)(c) of the Act – Inaccurate particulars furnished - different stands taken before the AO and appellate authority - assessee did not come out clean - penalty confirmed - AT

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  2. Penalty under section 271(1)(c) - AO has not unearthed any new fact from his independent sources which could lead to furnishing of inaccurate particulars by the assessee...

  3. Penalty u/s 271(1)(c) - recording of satisfaction - penalty initiated u/s 143(3) order for concealment of particulars of income - penalty imposed for furnishing of...

  4. Assessee neither challenged reopening nor has been able to disprove the finding of AO - penalty leviable u/s 271(1)(c) as assessee furnished inaccurate particulars and...

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  6. 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...

  7. Penalty u/s 271)1)(c) - penalty for furnishing inaccurate particulars of income can neither be imposed nor sustained on enhancement of net profit rate based on an estimate

  8. Penalty levied u/s 271(1)(c) - the mere disallowance under section 43B would not amount to concealment of income or furnishing inaccurate particulars of income - no penalty.

  9. Penalty under section 271(1)(c) - there is concealment of income from the HUF, i.e., knowingly the assessee furnished inaccurate particulars of income for computation...

  10. Penalty u/s 271(1)(c) - absence of due care does not mean that the assessee is guilty of either furnishing inaccurate particulars or attempting to conceal its income -...

 

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