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

Section 270A Introduces 200% Penalty for Misreporting Income Without Evidence of Expenditure Claims.

March 2, 2016

Act Rules Bill

Insertion of new section 270A - Penalty for underreporting and misreporting of income. - claim of expenditure not substantiated by any evidence will form misreporting of income and would attract 200% penalty

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

Section 270A Introduces 200% Penalty for Misreporting Income Without Evidence of Expenditure Claims.

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...

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...

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...

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 levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

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...

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...

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...

Penalty proceedings u/s.270A - unaccounted rental income - it is a case of misreporting of income as per provisions of Sec.270A(9) of the Act, and the AO has rightly...

AO imposed penalty under s.270A for unsubstantiated business expenses including advertising, development, land, and excavation charges, which were disallowed from...

The Appellate Tribunal considered the levy of penalty u/s 270A. The Assessing Officer (AO) imposed the penalty u/s 270A(9)(a) for misrepresentation of facts and...

Penalty levied u/s 270A - misreporting of income un/s 270A(8) and 270A(9) or not - Assessee filed the ITR after search conducted on third party but before the due date...

Amendment of section 273A. - power to reduce or waive penalty, etc., in certain cases. - It is proposed to make a reference of section 270A in clause (ii) and in 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...

The Appellate Tribunal considered two issues: Penalty u/s 271(1)(c) and u/s 270A. For the first, the Tribunal found the penalty notice defective as it did not specify...

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