Penalty u/s 271(1)(c) - assessee claimed remuneration to ...

Income Tax

September 30, 2016

Penalty u/s 271(1)(c) - assessee claimed remuneration to partners - assessee has contended that the case of the assessee was audited u/s 44AB, however, the learned Auditor did not disallow the excess claim of the remuneration - No penalty - AT

View Source

← Previous Next →

Penalty u/s 271(1)(c) - assessee claimed remuneration to ...

Income Tax

September 30, 2016

You may also like:

Partner’s remuneration u/s 40(b) - The manner of computing the remuneration is not specified - the remuneration payable is left to future mutual agreement between the...

Claim of deduction on business expenses incurred for earning remuneration from the firm - assessee a qualified Chartered Accountant was a partner in two firms -...

Penalty u/s 271(1)(c) - Merely because assessee claimed depreciation at 25% treating items to be plant, which claim was not acceptable to revenue, would not by itself...

Penalty u/s 271(1)(c) - Held that:- Wrongful claim of depreciation - The attempts made by the assessee are indicative of frivolous nature of claim - penalty confirmed - AT

Penalty u/s 271(1)(c) - Director’s remuneration - reallocation out of managerial remuneration to different units - claim of exemption u/s 80IC - at most, it was a case...

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

Penalty u/s.271(1)(c) - penalty cannot be levied where a bonafide claim of the assessee was rejected by the tax department. - AT

Penalty under section 271(1)(c) - disallowance of depreciation - he explanation given by the assessee for the claim of depreciation is neither bona fide nor...

Penalty u/s 271(1)(c) – assessee has bonafide belief in making the claim that gain arising out of sale of agricultural land is exempt from tax - no penalty - AT

Penalty u/s 271(1)(c) – In the garb of the bona fide claim an assessee cannot escape levy of penalty - Onus was not on the AO to prove the negative - AT

Quick Updates: