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 August 2017 Year 2017 This

Revision u/s 263 - unexplained investments - non-initiation of ...

Income Tax

August 12, 2017

Revision u/s 263 - unexplained investments - non-initiation of penalty u/s u/s 271(1)(c) of the Act render the order erroneous and prejudicial to the interest of the revenue and upheld the revision u/s 263

View Source

 


 

You may also like:

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

  2. Revision u/sec. 263 - CIT has exceeded his jurisdiction in directing the Assessing Officer to initiate penalty proceedings u/s 271(1)(c) - AT

  3. Revision u/s 263 by CIT - mistake of non-initiation or incorrect initiation of penalty - the inherent indication u/s 271(1) makes it clear that the Pr. CIT / CIT does...

  4. Penalty u/s 271(1)(c) – Tribunal proceeded on hyper- technicalities and acted as though every seizure must entail initiation of proceedings u/s 271 of the Act - no penalty - HC

  5. Penalty u/s 271(1)(c) - the assessment order, by a fiction of law, is deemed to constitute satisfaction of the Assessing Officer for initiation of penalty proceedings - HC

  6. Revision u/s 263 - Penalty u/s 271(1)(c) dropped - voluntarily offer certain income in the form of cash deposits/FDRs - a perusal of the ‘order sheet’ noting of the A.O...

  7. Penalty u/s 271(1)(c) - non recording of satisfaction - When satisfaction for initiation of penalty proceedings u/s 271(1)(c) of IT Act is recorded by the AO in...

  8. Levy of penalty u/s 271(1)(c) on unrecorded receipts, expenditure and investments declared by the assessee pursuant to search confirmed - AT

  9. Penalty u/s 271(1)(b) - Default by assessee - mens rea is not an essential element for imposing penalty for non compliance of notices issued by AO - penalty confirmed - AT

  10. Penalty u/s 271(1) (c) - Defective notice - non specification of charge - ITAT rightly set-aside the order of the penalty levied on the Assessee.

 

Quick Updates:Latest Updates