Penalty u/s 271(1)(c) - According to the assessee she was not ...

Income Tax

May 2, 2017

Penalty u/s 271(1)(c) - According to the assessee she was not having income exhibiting taxable limit in the past, but she has made small savings. When she filed the return for this year, she computed it as an opening capital balance - the explanation of assessee does not appear to be false - No penalty - AT

View Source

← Previous Next →

Penalty u/s 271(1)(c) - According to the assessee she was not ...

Income Tax

May 2, 2017

You may also like:

Penalty under section 271(1)(c) - There is no concrete positive evidence against the assessee exhibiting unexplained investment, except unregistered sale deed, which...

Clarification on Interest Rates on Small Savings Schemes.

Addition made u/s 68 - availability of opening capital balance cannot be discounted altogether - it may not be proper to altogether reject the claim of savings from past...

Levy of penalty u/s 271(1)(c) - Capital gain on sale of property - Allegation of the AO that, return of income has not been filed voluntarily - There was a reasonable...

Rates of interest on small savings schemes including Saving Deposits, Public Provident Fund, Kisan Vikas Patra and Sukanya Samriddhi Accounts Scheme

Penalty u/s 271(1)(c) - From the order of ITAT, there is a clear finding that the assessee is liable to penalty under Section 271(1)(c) of the Act. Hence, if the...

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

Penalty u/s 271(1)(c) on addition made u/s 68 - the assessee has given sufficient explanation though not found satisfactory by AO - No merit in levying penalty.

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) - assessee has accepted the additions made in the assessment does not by itself justify the imposition of penalty for concealment - AT

Quick Updates: