Levy of penalty - The CBDT has clarified that in cases prior to ...

Income Tax

July 14, 2016

Levy of penalty - The CBDT has clarified that in cases prior to 1-4-2016, if any adjustment is made in the income computed for the purpose of MAT, then the levy of penalty u/s. 271(1) ( c) of the Act, will depend on the nature of adjustment. The CBDT has also directed the revenue authorities that no appeal may henceforth be filed on this ground and appeals already filed, if any, on this issue before various courts/tribunals may be withdrawn or not pressed upon. - No penalty - AT

View Source

← Previous Next →

Levy of penalty - The CBDT has clarified that in cases prior to ...

Income Tax

July 14, 2016

You may also like:

MAT is paid, additions were made to regular income, penalty not levied – 115JB, 271(1)(c)

MAT - adjustment - adjustment of disallowance u/s 14A was not required to be made in Book Profits for the purpose of Section 115JB

Penalty u/s 271(1)(c) - furnished wrong particulars of its income in terms of profits u/s 115JB - Computation of Minimum Alternate Tax (MAT) - levy of penalty confirmed - AT

CBDT clarifies “Vodafone was warned“

Income Declaration Scheme Rules, 2016 as Notified by the CBDT will come into effect w.e.f. 1.6.2016

Book adjustments u/s 115JB - Insurance company - Minimum alternate tax (MAT) - these companies cannot be treated differently for the purpose of sec. 115JB - provisions...

Penalty levied under 271(1)(c) - The revenue has tried to make out a case that since the addition was made pursuant to information from sales tax department, this...

CBDT issues another Clarifications on the Income Declaration Scheme, 2016 (IDS)

Unexplained investment u/s 69 - surrender of income - provisions u/s 115BBE - no set off of loss u/s 69 - CBDT has clarified that, the Board is of the view that since...

Revision u/s 263 - MAT - assessment of the prior period income’s assessment for the purpose of sec.115JB computation as per the scheme of settlement of case - once the...

Quick Updates: