Penalty u/s. 271(1)(c) - calibre and expertise of the assessee ...

No Penalty Imposed: Section 271(1)(c) Error Deemed Inadvertent, Expertise Irrelevant in Income Tax Case.

June 2, 2017

Case Laws Income Tax AT

Penalty u/s. 271(1)(c) - calibre and expertise of the assessee has little or nothing to do with the inadvertent error. Absence of due care, in a case such as the present does not mean that the assessed is guilty of either furnishing inaccurate particulars or attempting to conceal its income - no penalty - AT

View Source

← Previous Next →

Penalty u/s. 271(1)(c) - calibre and expertise of the assessee ...

No Penalty Imposed: Section 271(1)(c) Error Deemed Inadvertent, Expertise Irrelevant in Income Tax Case.

June 2, 2017

Case Laws Income Tax AT

You may also like:

Difference between assessed income and returned income arose due to inadvertent error in taking opening written down value (WDV) at book value instead of WDV under...

Penalty u/s 271(1)(c) - The calibre and expertise of the assessee has little or nothing to do with the inadvertent error. - SC

Penalty u/s 271(1)(c) - inadvertent mistake - assessee, the returned income was ₹ 35.37 crores and an error of ₹ 1,30,869/- and ₹ 1,01,956/-, which the...

Levy of penalties u/ss 122 and 129 of CGST/SGST Acts - expiry of e-way bill - mens rea in penalty imposition. Technically, violation of law by petitioner in transporting...

The Assessing Officer (AO) consciously deleted irrelevant portions from the show cause notice, mentioning only the charge of furnishing inaccurate particulars of income....

ITAT adjudicated a taxation dispute concerning penalty levy under section 270A. The tribunal examined whether disallowed expenses constituted underreported income. Key...

Levy of Penalty u/s 129(3) of the Central Goods and Service Tax Act, 2017 - Errors in e-way bills - The Court emphasized that minor typographical errors in e-way bills,...

Penalty u/s 271(1)(c) - The calibre and expertise of the assessee has little or nothing to do with the inadvertent error. Absence of due care, in a case such as the...

Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

HC held that a registered assessee who committed a technical error in filing GST TRAN-1 cannot be denied transitional tax credit. The court emphasized that procedural...

The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

The assessee had conceded the compensation income to be included as income from other sources. However, upon judicial examination, the compensation was found to be...

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...

Exemption u/s 11 - claiming benefit of accumulation u/s 11(2) over deemed income u/s 11(3) - non application of income - the assessee should not be eligible to claim...

Levy of maximum penalty - penalty imposed on the basis of technical error - non downloading of E-way Bill-01 - The Allahabad High Court reviewed the matter and set aside...

Quick Updates: