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Income Tax - Highlights / Catch Notes

Home Highlights November 2015 Year 2015 This

Penalty u/s 271(1)(c) - assessee having under declared its ...

Income Tax

November 11, 2015

Penalty u/s 271(1)(c) - assessee having under declared its receipt is exigible to levy of penalty under Section 271(1)(c) of the Act view of the concurrent findings of concealment of income - HC

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  1. Levy of penalty u/s 271(1)(c) on unrecorded receipts, expenditure and investments declared by the assessee pursuant to search confirmed - AT

  2. Penalty levied u/s.271(1)(c) - excess expenses disallowed and suppression of receipts - being bonafide mistake in accounting the total contract receipts, no penalty.

  3. Penalty u/s 271(1)(c) - The finding of the authorities based on the evidence of the valuer, which was corroborated by the circumstantial evidence - Levy of penalty confirmed - HC

  4. Penalty levied u/s 271(1)(c) - the assessee has given evidences, on which no findings was given by Ld. CIT(A), in our view, the assessee reasonably explained the facts...

  5. Penalty u/s 271(1)(c) - it cannot be said that the surrender of income was voluntary - assessee had no intention to declare its true income - penalty confirmed - SC

  6. Levying the penalty u/s.271(1)(c) - Just for making wrong claims made advertently or inadvertently, therefore, penalty cannot be levied u/s.271(1)(c) of the Act and...

  7. 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...

  8. Assessee neither challenged reopening nor has been able to disprove the finding of AO - penalty leviable u/s 271(1)(c) as assessee furnished inaccurate particulars and...

  9. 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...

  10. Penalty u/s 271(1)(b)- assessee refused to answer the notice u/s 142(1) - assessee was an attorney of some account holder - levy of penalty confimred - HC

 

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