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Income Tax - Highlights / Catch Notes

Home Highlights October 2014 Year 2014 This

Levy of penalty u/s 271(1)(c) - Claim of depreciation on leased ...

Income Tax

October 16, 2014

Levy of penalty u/s 271(1)(c) - Claim of depreciation on leased assets - The transactions entered into by the assessee were sham and bogus transactions which were intended to defeat the provisions of law - AT

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  2. Claim of depreciation in respect of assets allegedly leased - financing transactions - assessee purchased assets and leased back to the same company claiming 100% depreciation - HC

  3. Penalty under section 271(1)(c) - disallowance of depreciation - he explanation given by the assessee for the claim of depreciation is neither bona fide nor...

  4. Levy of penalty u/s 271(1)(c) - claiming false depreciation - lease transaction not to be a bonafide transaction - three authorities have concurrently held on facts...

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  7. Whether entering into a lease transaction would amount to transfer? - the CIT(A) is right in its observation that a lease transaction would not amount to a transfer and...

  8. 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...

  9. Penalty u/s.271(1)(b) - no compliance to notice u/s 142(1) - The AO levied the penalty for non-compliance of notice dated 13.06.2016, however, there is no reference of...

  10. Penalty levied u/s 271(1)(c) - disallowance of the deduction claimed by the assessee u/s 35 - AO has not brought out his case as to why penalty u/s.271(1)(c) of the Act...

  11. Penalty levied u/s 271(1)(C) - deemed income being loss claimed and disallowed - The AO has also not specified the charge on which penalty is being levied - No penalty - AT

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

  13. 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,...

  14. Penalty u/s 271(1)(c) - claim of depreciation @100% instead of 15% - Temporary Wooden structures like interiors, glow signs etc. being Furniture & Fixture - Levy of...

  15. 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...

 

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