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Income Tax - Highlights / Catch Notes

Home Highlights October 2016 Year 2016 This

Penalty u/s 271AAA - A.O has not identified which of the ...

Income Tax

October 27, 2016

Penalty u/s 271AAA - A.O has not identified which of the conditions have been violated by the assessee, that invite the levy of penalty u/s 271AAA of the Act in the case on hand; Nor has any reason has been rendered for the levy thereof - No penalty - AT

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  4. Penalty proceedings u/s 271AAA - the penalty was initiated u/s 271AAA in the quantum assessment order whereas the same has finally been levied u/s 271AAB which would...

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  8. Penalty u/s 271AAA or 271(1)(c) - The penalties u/s 271(1)(c) and 271AAA are attracted in different situations and both are mutually exclusive. Having initiated the...

  9. Penalty imposed u/s 271AAA - in course of search and seizure operation when the assessee came forward and offered certain income to show his bonafide and ultimately...

  10. Penalty u/s 271AAA(2) - assessee has admitted to have earned unaccounted commission income during the course of search proceedings - he has paid due taxes along with...

 

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