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Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Levy of penalty u/s.271(1)(c) - assessee has wrongly computed ...

Income Tax

April 28, 2016

Levy of penalty u/s.271(1)(c) - assessee has wrongly computed the deduction u/s. 80-IA by showing the wrong depreciation - levy of penalty confirmed - AT

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  1. Levy of penalty levied u/s 271(1)(c) - disallowance under section 40(a)(ia), does not amount to concealment of income - No penalty.

  2. Deduction under Section 80-IA - preparing of designs and drawings - Activity of the assessee falls within the meaning of the word 'manufacture' or produce used in...

  3. Levy of penalty - As the assessee had paid service tax and interest by showing their bonafides before issuance of SCN - Penalty liable to be waived of by invoking Section 80 - AT

  4. Denial of deduction u/s 80-IA (4) - 'Cargo facility' operated and maintained by the assessee is infrastructure facility eligible for deduction u/s 80IA(4).

  5. Penalty order u/s 271(1)(c) - wrongly claiming deduction of rental payments in violation of the provisions of section 40(a)(ia) - non deduction of TDS on the rental...

  6. Penalty levied u/s 271(1)(C) - exemption u/s 80-IC - income in the garb of fictitious cash sales - Assessing Officer as well as the Appellate Authority, rightly gave...

  7. It cannot be said that assessee is not eligible for deduction u/s 80 IA(4) for the reason that the assessee on its own did not develop an infrastructure project - AT

  8. 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

  9. Penalty levied u/s 271(1)(C) - deemed income being loss claimed and disallowed - The AO has also not specified the charge on which penalty is being levied - No penalty - AT

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

 

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