Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2016 Year 2016 This

Where there is no evidence of receipt of consideration over and ...

Income Tax

September 1, 2016

Where there is no evidence of receipt of consideration over and above declared by the assessee and the assessment is either completed u/s 143(3) or even u/s 148 based on deemed sale consideration u/s 50C as per stamp duty authority invoking provisions of section 50C, the penalty u/s 271(1)(c) is not leviable. - AT

View Source

 


 

You may also like:

  1. Reopening of assessment u/s 147 - Bypassing the option to initiate scrutiny assessment u/s 143(3) - The assessment proceedings would cease to be pending either by...

  2. Reopening of assessment u/s 147 - non issue of notice issued u/s 143(2) - In absence of any notice issued u/s 143(2) after receipt of fresh return submitted by the...

  3. Reopening of assessment u/s 147 - Initiation of reassessment proceedings, u/s.148 of the Act and issued notice to the assessee was based on valid reason on the strength...

  4. Assessment u/s 153A/143 - Difference between assessments under section 143(3) and 144 - Mention of nature of the order as section 153A r.w.s. 143(3) was not a technical...

  5. Penalty u/s 272A(2)(e) - return in this case was filed on 12/07/2017 as late by 2537 days - the assessee has filled its return of income declaring the nil income and...

  6. Reopening of assessment - expenditure has wrongly been allowed - reopening of the assessment completed under section 143(1) by issue of a notice under section 148 was valid - HC

  7. Reopening of assessment u/s 147/148 - failure to issue notice u/s 143(2) - reopening of assessment is not valid as the Income Tax Department has power to conduct the...

  8. Re-assessment u/ss 147 / 148 - no failure on the part of the Assessee to disclose fully and truly the relevant material resulting in such escapement of income in the...

  9. Reopening of assessment - AO seeks to reopen the assessment on a mere change of opinion inasmuch as, at the time of scrutiny assessment, AO had applied his mind to the...

  10. Assessment u/s 143(3) r.w.s. 147 - The annulment of assessment done under section 143(3) by the higher judicial authorities, itself, cannot be a ground for reopening - AT

 

Quick Updates:Latest Updates