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 June 2018 Year 2018 This

Levy of penalty u/s 271(1)(c) - loss of mark of market ...

Income Tax

June 16, 2018

Levy of penalty u/s 271(1)(c) - loss of mark of market transaction on foreign exchange hedging contract - where there are possible two views possible on an issue, penalty thereon cannot be levied.

View Source

 


 

You may also like:

  1. Market to market loss - loss on account of Exchange rate fluctuation - of outstanding debtors and creditors for sale and purchase of foreign currency - speculative...

  2. Disallowance on account of 'mark to market loss' on F&O transaction - additions deleted - AT

  3. Disallowance of foreign exchange fluctuation loss - mark to market loss - There is hardly any quarrel on such DRP’s directions are binding on an Assessing Officer u/s...

  4. Mark to market loss - Contingent loss or not - Unrealized foreign exchange forward contract losses - 'mark to market' loss on such future and forward contracts are not a...

  5. Allowing mark to market loss on account of outstanding forward contract liability - the forward contract transactions so entered during the course of regular business...

  6. Penalty levied u/s 271(1)(C) - deemed income being loss claimed and disallowed - The AO has also not specified the charge on which penalty is being levied - No penalty - AT

  7. TP Adjustment - When foreign exchange loss is to form part of the total base of the taxpayer for the purpose of charging a mark up to its AEs as it drives income from...

  8. Disallowance of swap contract loss - whether the loss is not real but a notional loss for the reason that there was no actual transaction carried out by the assessee -...

  9. Penalty u/s 271(1)(c) - price charged by the assessee in international transactions have not been computed in accordance with the provisions contained in section 92C -...

  10. Whether penalty under section 271(1)(c) of the Income-tax Act cannot be levied in a case where the assessed income is a loss – Held yes - HC

 

Quick Updates:Latest Updates