Insertion of new section 270A - Penalty for underreporting and ...

New Section 270A: Penalties for Income Underreporting & Misreporting; Sub-section (6) Lists Exemptions from Under-reporting Classification.

March 2, 2016

Act Rules Bill

Insertion of new section 270A - Penalty for underreporting and misreporting of income. - Sub-section (6) of the proposed new section seeks to provide that under - reported income under this section shall not include certain cases mentioned therein.

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Insertion of new section 270A - Penalty for underreporting and ...

New Section 270A: Penalties for Income Underreporting & Misreporting; Sub-section (6) Lists Exemptions from Under-reporting Classification.

March 2, 2016

Act Rules Bill

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Penalty imposed u/s 270A(9) for underreporting and misreporting of income was challenged due to non-specification of clear charge. The Tribunal held that underreporting...

ITAT adjudicated a taxation dispute concerning penalty levy under section 270A. The tribunal examined whether disallowed expenses constituted underreported income. Key...

Penalty proceedings u/s 270A - Applicable rate of penalty - The Appellate Tribunal noted that while the penalty notice cited under-reporting of income, the AO imposed...

Penalty u/s 270A - allegation of misreporting as per section 270A(9) - Penalty @200% in respect of excess claim of depreciation - The tribunal found that the...

Insertion of new section 270A - Penalty for underreporting and misreporting of income. - the cases of under-reported income falling under misreporting of income shall be...

Penalty u/s 270A - “underreporting” of income - right to be granted immunity under Section 270AA - In the present case, the petitioner has satisfied the aforesaid...

Penalty u/s 270A - immunity u/s 270AA - misreporting of income - there is not even a whisper as to which limb of Section 270A of the Act is attracted and how the...

Insertion of new section 270A - Penalty for underreporting and misreporting of income. - Appropriate provisions to cover minimum alternate tax and alternate minimum tax cases

Insertion of new section 270A - Penalty for underreporting and misreporting of income. - failure to record any receipt in books of account having a bearing on total...

ITAT held that no specific charge was framed against the assessee in the show-cause notice issued u/s 274 read with Section 270A for misreporting of income. While the...

The case involved penalty proceedings u/s 270A for under-reporting or misreporting of income. The appellant argued that there was no underreporting as the transaction...

Insertion of new section 270A - Penalty for underreporting and misreporting of income. - claim of expenditure not substantiated by any evidence will form misreporting of...

The assessee failed to file the original return of income, and the Assessing Officer initiated penalty proceedings for underreporting income. The assessee's authorized...

Penalty levied u/s 270A - misreporting of income - Since AO failed to bring the addition/disallowance he made in quantum assessment, under the ken of (a) to (f) of the...

Levy of penalty u/s 270A r.w.s. 274 - misreporting of income on the addition of leave encashment - levy of penalty is not automatic on mere making addition, if the...

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