Penalty u/s.271(1)(c) - disallowance of expenses - The ...

Income Tax

October 17, 2018

Penalty u/s.271(1)(c) - disallowance of expenses - The allegation of the AO that the expenses incurred are /or personal purpose since there is no income earned during the year under consideration without bringing any corroborative evidence on record is misplaced - No penalty.

View Source

← Previous Next →

Penalty u/s.271(1)(c) - disallowance of expenses - The ...

Income Tax

October 17, 2018

You may also like:

Disallowance of travelling expenses - AO while disallowing the expenses has noted that the expenses were incurred on account of trip by cruise ship by director and his...

Penalty u/s 271(1)(c) - Disallowance of interest expenditure under section 43B as well as disallowance export product development expenses - Just because the assessee...

Penalty u/ s 271(1)(c) - Disallowance on account of personnel expenses, operative expenses and finance expenses - it a “mere disallowance” of an expense does not warrant...

Penalty u/s 271(1)(c) - assessee has admitted part disallowance of expenses - admission of expenses could not be construed that the assessee has admitted allegations...

Penalty u/s 271(1)(c) - for such lump-sum disallowance out of wages on the basis of presumption, no penalty u/s 271(1)(c) is leviable - AT

Levy of penalty u/s. 271 (1)(c) - Allegation of engaged in business of providing accommodation entries - if the AO was of the opinion that the assessee is engaged in a...

Penalty levied u/s.271(1)(c) - excess expenses disallowed and suppression of receipts - being bonafide mistake in accounting the total contract receipts, no penalty.

Disallowance out of travel expenditure - AO has rightly declined the said travelling expenses being not incurred upon the employees of the assessee firm - AT

Expenses incurred for earning interest income on estimation basis - AO is directed to allow 1% of expenses on account of interest income and on service charges income - AT

Penalty u/s 271(1) (c) - additions/ disallowances made under normal provisions of the Act, if ultimately the tax liability is determined u/s 115JB - No penalty

Quick Updates: