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 March 2015 Year 2015 This

Penalty u/s.271(1)(c) - If the assessee has claimed the ...

Income Tax

March 17, 2015

Penalty u/s.271(1)(c) - If the assessee has claimed the deduction u/s 43B on the basis of actual payment, then it should be held that the assessee’s claim for deduction for the impugned assessment year is not bonafide or the assessee cannot be held liable for furnishing of inaccurate particulars. - AT

View Source

 


 

You may also like:

  1. Deduction u/s 43B - payment of bonus - u/s 43B only actual payment and not any notional or deemed payment that would be relevant for considering the deduction - HC

  2. Penalty u/s 271(1)(c) - The assessee cannot be accused of concealing his income or furnishing of inaccurate particulars of income as the disallowance has been made u/s 43B - AT

  3. Penalty u/s 271(1)(c) - bogus claim of deduction under Section 35CCA - penalty under Section 271(1)(c) was rightly imposed - HC

  4. Addition u/s 43B - “actual payment” means “actual payment” and not actual receipt and delivery of the currency by the two parties transacting when they are creditor and...

  5. 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.

  6. Deduction on Payment basis u/s 43B - electricity charges to the APSEB cannot be termed as "fees" - electricity charges are in the nature of statutory liability -...

  7. Levy of penalty imposed u/s 271(1)(c) - disallowance of deductions u/s 43B - the same cannot be amounted to concealment of particulars of income or furnishing of...

  8. Allowance of expenses on actual payment – provisions of section 43B are applicable on non-payment of interest on the delayed payment of due service tax - AT

  9. Penalty u/s 271(1)(c) - estimation of income - bogus purchases - penalty u/s 271(1)(c) of the Act cannot be levied where the addition is made on estimate basis - AT

  10. Penalty u/s 271(1)(c) - for such lump-sum disallowance out of wages on the basis of presumption, no penalty u/s 271(1)(c) is leviable - AT

 

Quick Updates:Latest Updates