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Income Tax - Highlights / Catch Notes

Home Highlights November 2018 Year 2018 This

Penalty u/s 271(1)(c) - AO has levied penalty u/s 271(1)(c) only ...

Income Tax

November 23, 2018

Penalty u/s 271(1)(c) - AO has levied penalty u/s 271(1)(c) only invoking the Explanation 5A below section 271(1)(c) and not held the assessee liable for concealment of particular of income or furnishing of inaccurate particular of income - No penalty.

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  8. Penalty u/s 271(1)(c) - surrender of income - suo motu further income declared in the returns filed u/s 153A - Explanation 5A has specific application, the contention...

  9. Penalty u/s 271(1)(c) – In the garb of the bona fide claim an assessee cannot escape levy of penalty - Onus was not on the AO to prove the negative - AT

  10. Penalty being 300% by invoking Section 271(1)(c) - return was revised before completion of assessment - Revenue is not justified in imposing penalty under Section 271(1)(c) - HC

 

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