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Income Tax - Highlights / Catch Notes

Home Highlights April 2017 Year 2017 This

Penalty levied u/s 271(1)(c) - addition u/s 68 - the entire ...

Income Tax

April 5, 2017

Penalty levied u/s 271(1)(c) - addition u/s 68 - the entire addition itself becomes debatable one. It is well settled proposition of law that the penalty u/s 271(1)(c) cannot be levied on debatable issues - AT

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  4. Deletion of penalty u/s 271(1)(c) - Issues on basis of which ALP shown by the assessee has been rejected are debatable - No penalty - AT

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  6. MAT is paid, additions were made to regular income, penalty not levied – 115JB, 271(1)(c)

  7. 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

  8. Penalty u/s 271(1)(c)- additions u/s 68 - the contention of the assessee cannot be straightway rejected that such error may occur due to software problem - AT

  9. No Penalty u/s 271(1)(c) - claim is bonafide and is also debatable and there is no concealment of income.- AT

  10. Penalty u/s 271(1)(c) - addition made on protected assessment - addition in this case was made on protected assessment/addition on estimated basis which is against the law - AT

 

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