Penalty u/s 271(1)(c) - capital gain have been directly credited ...

Income Tax

May 30, 2015

Penalty u/s 271(1)(c) - capital gain have been directly credited to capital reserve account in the balance-sheet, whereas as per the AO such capital gain should have been credited in the profit and loss account only - mere making of a claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars - no penalty - AT

View Source

← Previous Next →

Penalty u/s 271(1)(c) - capital gain have been directly credited ...

Income Tax

May 30, 2015

You may also like:

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

Penalty u/s 271(1)(c) - MAT - Book profit u/s 115JB - The inclusion or otherwise of the capital gains in the capital reserve account directly without routing it through...

Penalty u/s 271(1)(c) of the Income Tax Act – short term capital gains was not disclosed in the return of income - levy of penalty confirmed - AT

Penalty u/s 271(1)(c) – assessee has bonafide belief in making the claim that gain arising out of sale of agricultural land is exempt from tax - no penalty - AT

Penalty under section 271(1)(c) - disallowance of capital expenditure of Research and Development - The facts material to the computation were not produced - levy of...

Penalty for concealment of income u/s 271(1)(c) of the Income Tax Act - Claim of capital loss as bad debt - bonafide belief - no penalty - HC

Penalty u/s 271 (1)(c) - capital gain assessed as per the provisions of section 50C/2(14) - The direction of CIT(A) is clear that penalty cannot be imposed on the basis...

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...

Penalty u/s 271(1)(c) - The assessee had short term capital gain on sale of land which was wrongly claimed as long term capital gain by substituting year of acquisition...

Validity of confirmation of penalty u/s 271(1)(c) – ssessee miserably failed to offer an explanation for the cash credit raised in the form of share application money -...

Quick Updates: