Penalty u/s 271(1)(c) – Whatever may have been the justification ...

High Court Overturns Penalty u/s 271(1)(c) of Income Tax Act, Citing Lack of Justification and Over-Technical Approach.

September 26, 2014

Case Laws Income Tax HC

Penalty u/s 271(1)(c) – Whatever may have been the justification in adding the figures so arrived at, to the income of the appellant, there was no justification to initiate the proceedings u/s 271(1)(c) of the Act - the Tribunal proceeded on hyper- technicalities - HC

View Source

← Previous Next →

Penalty u/s 271(1)(c) – Whatever may have been the justification ...

High Court Overturns Penalty u/s 271(1)(c) of Income Tax Act, Citing Lack of Justification and Over-Technical Approach.

September 26, 2014

Case Laws Income Tax HC

You may also like:

Penalty u/s 271(1)(c) was levied on additional income voluntarily offered in the statement recorded u/s 132(4). However, no reference was made to corroborative...

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...

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...

Levy of Penalty u/s. 271(1)(c) - The ITAT ruled that since there was no variation between the returned and assessed income, there was no concealment of income by the...

Penalty u/s 271(1)(c) - additional income was declared in survey u/s 133A - date of filing of return u/s 139(1) had not expired - The fact of “concealment of income” and...

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...

The Assessing Officer (AO) consciously deleted irrelevant portions from the show cause notice, mentioning only the charge of furnishing inaccurate particulars of income....

Penalty for concealment of income Under Section 271(1) (c) - Article

MAT is paid, additions were made to regular income, penalty not levied – 115JB, 271(1)(c)

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...

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...

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...

Levy of penalty u/s.271(1)(c) - defective notice - it would be too technical and pedantic to take the view that because in the printed notice the inapplicable portion...

The ITAT held that penalty u/s 271(1)(c) was not imposable on the assessee. The assessee had voluntarily paid tax on income from sale of shares three years prior to...

Penalty u/s 271(1)(c) - Penalty under section 271(1)(c) of the Act is leviable to be imposed only where the assessee has concealed its particulars of income or furnished...

Quick Updates: