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 March 2017 Year 2017 This

Penalty u/s. 271(1)(c) - bonafide mistake - assessee could not ...

Income Tax

March 3, 2017

Penalty u/s. 271(1)(c) - bonafide mistake - assessee could not be said to have filed "false" returns when it did not include the amount of interest and notional house property income in the taxable income - no penalty - AT

View Source

 


 

You may also like:

  1. Penalty levied u/s.271(1)(c) - excess expenses disallowed and suppression of receipts - being bonafide mistake in accounting the total contract receipts, no penalty.

  2. Penalty u/s 271(1)(c) under Explanation 5A - no return u/s 139(1) - return filed u/s 153A disclosing Capital Gain which was accepted - it is neither a case of bonafide...

  3. Penalty u/s 271(1)(c) - Explanation is bonafide is, we find, supported by the fact that during assessment proceedings the assessee, realizing his mistake even before...

  4. Penalty u/s 271(1)(c) deleted – the act of the assessee was bonafide even though the assessee may have failed to substantiate its claim that the amount was capital receipt - HC

  5. Penalty u/s 271(1)(c) - disallowance u/s. 36(1)(iii) - In fact, the assessee at the time of assessment proceedings has given a detailed calculation related to interest...

  6. Penalty levied u/s.271(1)(c) - revised return filed - assessee has adopted the recourse of avoiding litigation, therefore, revised the return to buy peace of mind - no...

  7. Penalty u/s 271(1)(c) - after learning about the serious irregularities in the activities of the aforesaid institute, acted in a bonafide manner, and in his return filed...

  8. Penalty u/s 271(a)(c) - The explanation filed by the assessee about not disclosing interest income in the return of income was not bona fide - levy of penalty confirmed - AT

  9. Penalty u/s 271(1)(c) - credit worthiness and genuineness of the transaction - Gifts by family friends – the explanation given by the assessee is totally false -...

  10. Penalty u/s 271(1)(c) - the assessee has furnished bonafide and genuine explanations as to an inadvertent mistake committed by it which was an human error committed...

 

Quick Updates:Latest Updates