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Income Tax - Highlights / Catch Notes

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Penalty u/s 271(1)(c) - failure to pay tax paid on sale of ...

Income Tax

May 28, 2018

Penalty u/s 271(1)(c) - failure to pay tax paid on sale of property - the conduct of the assessee is bonafide which takes it out from exigibility of penalty within mandate of penalty provisions - AT

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  2. 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

  3. Failure on the part of the assessee to file the returns voluntarily, as statutorily prescribed, would be a culpable act or omission attracting penalty under Section 271(1)(c).

  4. Penalty u/s 80 - Failure to pay service tax before due date - no deliberate intention to evade tax. - no penalty - HC

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  7. Penalty levied u/s 271(1)(b) - failure to comply with the notices issued by the A.O u/s 142(1) - the non-compliance on the part of the assessee is due to the reason of...

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

  9. Penalty u/s 271(1)(c) - profits from sale and purchase of agricultural land shown as capital gain instead of profits and gains from business - No penalty - AT

  10. Levy of Penalty u/s 271(1)(c) in case of voluntary surrender of income - disallowance of claim of loss - Assessee offered the loss voluntarily to avoid litigation and...

 

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