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Income Tax - Highlights / Catch Notes

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Penalty levied u/s. 271(1)(c) - as per rule of evidence there is ...

Income Tax

October 20, 2016

Penalty levied u/s. 271(1)(c) - as per rule of evidence there is distinction between set of facts not proved and facts disproved and facts proved - No penalty - AT

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  1. Penalty u/s 271(1)(c) - CIT upheld penalty - the onus of proving and disproving keeps on shifting as the proceedings are advanced. - AT

  2. Penalty u/s 271(1)(c) - The finding of the authorities based on the evidence of the valuer, which was corroborated by the circumstantial evidence - Levy of penalty confirmed - HC

  3. 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

  4. Assessee neither challenged reopening nor has been able to disprove the finding of AO - penalty leviable u/s 271(1)(c) as assessee furnished inaccurate particulars and...

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  6. Penalty under section 271(1)(c) - disallowance of capital expenditure of Research and Development - The facts material to the computation were not produced - levy of...

  7. 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

  8. Penalty u/s 271(1)(c) - estimation of income - bogus purchases - penalty u/s 271(1)(c) of the Act cannot be levied where the addition is made on estimate basis - AT

  9. Imposition of penalty u/s 271(1)(c) – mere admission of appeal by the High Court is sufficient to debar the penalty levied u/s.271(1)(c) of the Act - AT

  10. Penalty u/s 271(1)(c) - when the Assessing Officer is not able to prove that the assessee was guilty of fraud or gross or willful negligence, penalty cannot be sustained - AT

 

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