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 January 2019 Year 2019 This

Penalty u/s 271(1)(c) - Once the vendor and vendee have accepted ...

Income Tax

January 15, 2019

Penalty u/s 271(1)(c) - Once the vendor and vendee have accepted the receipt and the payment of unaccounted money, subsequent retraction has no relevance and it is a valid piece of evidence.

View Source

 


 

You may also like:

  1. 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.

  2. Validity of confirmation of penalty u/s 271(1)(c) – ssessee miserably failed to offer an explanation for the cash credit raised in the form of share application money -...

  3. Penalty u/s 271(1)(c) - assessee has accepted the additions made in the assessment does not by itself justify the imposition of penalty for concealment - AT

  4. Penalty u/s 271(1)(c) - AO had come to the conclusion that for want of suppling sufficient material by the assessee, the claim of commission cannot be accepted - No penalty - HC

  5. Merely because assessee had claimed expenditure which was not accepted or not acceptable to Revenue that by itself would not attract a penalty u/s 271(1)(c) - AT

  6. Levy of penalty u/s 271(1)(c) on unrecorded receipts, expenditure and investments declared by the assessee pursuant to search confirmed - AT

  7. Penalty u/s 271(1)(c) deleted – the act of the assessee was bonafide even though the assessee may have failed to substantiate its claim that the amount was capital receipt - HC

  8. Levy of penalty u/s 271(l)(c) - additional income disclosed due to search and survey at the premises - wherein the returned income has been accepted, penalty cannot be imposed - AT

  9. Penalty u/s 271(1)(c) - estimation of income - bogus purchases - penalty u/s 271(1)(c) of the Act cannot be levied where the addition is made on estimate basis - AT

  10. Refund claim - credit of additional duty of customs (CVD) on inputs imported - It is clear that even as per the tripartite contracts, the appellants are a sort of...

 

Quick Updates:Latest Updates