Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights May 2014 Year 2014 This

Penalty u/s 271(1)(c) - Capital gains not shown in the return – ...


No Penalty for Unreported Capital Gains Due to Human Error Amid Family Illness u/s 271(1)(c).

May 30, 2014

Case Laws     Income Tax     AT

Penalty u/s 271(1)(c) - Capital gains not shown in the return – Assessee disturbed due to illness of father – error committed could be described only as a human error, which we all are prone to make - no penalty - AT

View Source

 


 

You may also like:

  1. The assessee had conceded the compensation income to be included as income from other sources. However, upon judicial examination, the compensation was found to be...

  2. This case deals with the levy of penalties u/ss 271AAA and 271(1)(c) of the Income Tax Act in relation to various additions made to the assessee's income based on seized...

  3. Penalty u/s 271(1)(c) - profits from sale and purchase of agricultural land shown as capital gain instead of profits and gains from business - No penalty - AT

  4. Penalty u/s 271(1)(c) for furnishing inaccurate particulars of income - adjustment made u/s 92CA - penalty levied u/s 271(1)(c) on the adjustment made u/s 92CA is not...

  5. Penalty u/s 271(1)(c) - the assessee has furnished bonafide and genuine explanations as to an inadvertent mistake committed by it which was an human error committed...

  6. Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

  7. 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...

  8. Penalty u/s 271(1)(c) - adjustment of the Short Term Capital Loss (STL) with Long Term Capital Gain (LTCG) - Non-disclosure of Dividened income - Assessee voluntarily...

  9. Penalty u/s 271(1)(c) - computation of short term capital gains on sale of various office premises - WDV taken as per The Companies Act as against Income Tax Act -...

  10. 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...

  11. 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...

  12. Non-filer assessee had taxable income but failed to file return u/s 139(1), later filed return in response to notice u/s 148 without considering section 50C provisions,...

  13. Levy of penalty u/s 271(1)(c) - Computation of capital gain - assessee cannot be made subject levy of penalty under section 271(1)(c) of the Act merely for reason that...

  14. No penalty u/s 271(1)(c) was imposed on the assessee for disallowance of depreciation. The ITAT held that the assessee did not deliberately claim depreciation with an...

  15. Defective notice issued u/s 274 read with Section 271(1)(c) for levying penalty. The key points are: The phrases "conceal" and "furnishing of inaccurate particulars" in...

 

Quick Updates:Latest Updates