Penalty levied u/s.271(1)(c) - excess expenses disallowed and ...

Penalty u/s 271(1)(c) Not Enforced Due to Honest Accounting Mistake in Reporting Contract Receipts.

November 29, 2018

Case Laws Income Tax AT

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.

View Source

← Previous Next →

Penalty levied u/s.271(1)(c) - excess expenses disallowed and ...

Penalty u/s 271(1)(c) Not Enforced Due to Honest Accounting Mistake in Reporting Contract Receipts.

November 29, 2018

Case Laws Income Tax AT

You may also like:

Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

Penalty u/s 271(1)(c) - proof of contravention of provisions provided under explanation 5A to section 271(1)(c) - On reference to the provisions of explanation 5A to...

Penalty u/s 271(1)(c) - addition u/s 68 - Penalty has been levied in a mechanical manner without application of mind. In our view, this is a serious mistake in the...

Penalty u/s 271(1)(c) for furnishing inaccurate particulars of income - adjustment made u/s 92CA - penalty levied u/s 271(1)(c) on the adjustment made u/s 92CA is not...

Penalty 271(1)(c) - additions on account of donation and charity, and on account of loss on sale of assets, which were debited to the profit and loss account - The ITAT...

Penalty proceedings u/s 271(1)(c) - Assessee company failed to provide bonafide explanation for inflated expenses claimed in revised return, contrary to audited...

This case deals with the levy of penalties u/ss 271AAA and 271(1)(c) of the Income Tax Act in relation to various additions made to the assessee's income based on seized...

Imposition of penalty u/s 271(1)(b) - non-compliance of the notice issued under Section 142(1) - if the assessee really had no connection with the Swiss Bank accounts,...

Penalty u/s 271(1)(c) - A mere bonafide omission on the part of the assessee to account for the interest portion of the refund (which though had duly been reflected in...

Section 271(1)(c) penalty was held invalid due to improper issuance of notice, as no proceedings were pending when the notice was issued on 19.12.2019. Section 271A...

Penalty u/s. 271(1)(c) - recording of specific finding or not? - In para 7 of the penalty order u/s. 271(1)(c), the Assessing Officer held that it is found to be a fit...

Penalty u/s.271(1)(b) - no compliance to notice u/s 142(1) - The AO levied the penalty for non-compliance of notice dated 13.06.2016, however, there is no reference of...

Defective notice issued u/s 274 read with Section 271(1)(c) for levying penalty. The key points are: The phrases "conceal" and "furnishing of inaccurate particulars" in...

The assessee had conceded the compensation income to be included as income from other sources. However, upon judicial examination, the compensation was found to be...

Penalty u/s 271AAA or 271(1)(c) - The penalties u/s 271(1)(c) and 271AAA are attracted in different situations and both are mutually exclusive. Having initiated the...

Quick Updates: