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 This

Penalty u/s 271(1)((c) - Exemption of interest income u/s ...

Income Tax

Penalty u/s 271(1)((c) - Exemption of interest income u/s 80P(2) is not allowable due to subsequent decision - prior to this decision, the position was not clear and issue was debatable - no penalty is leviable

View Source

 


 

You may also like:

  1. Deduction u/s 80P - interest income - The tribunal noted that section 80P(2)(a)(i) allows deduction for cooperative societies engaged in banking or providing credit...

  2. Penalty u/s 271(1)(c) - deduction under Section 80P - Tribunal has recorded a finding of the fact that there is no evidence of concealment of income. Tribunal has...

  3. Interest income earned by a credit cooperative society on the FDRs with nationalized bank would qualify for grant of exemption under section 80P(2) - AT

  4. Penalty u/s 271(1)(c) - absence of due care does not mean that the assessee is guilty of either furnishing inaccurate particulars or attempting to conceal its income -...

  5. Deduction u/s 80P(2)(a)(i) - assessee has shown interest income which was received from the non-members - There remains no ambiguity that income received by the assessee...

  6. Claim of deduction u/s 80P(2)(d) - interest income received from Co-operative Bank - In the present case even though the assessee’s claim of deduction under section...

  7. Penalty u/s 271(1)(c)- additions u/s 68 - the contention of the assessee cannot be straightway rejected that such error may occur due to software problem - AT

  8. Penalty u/s 271(1)(c) - The absence of due care does not mean that the assessee was guilty of furnishing inaccurate particulars to conceal his income - HC

  9. Deduction u/s 80P - In case of co-operative credit society, income to which benefit of section 80P(2)(a)(i) is not allowed, e.g., rental income, interest income from...

  10. Penalty u/s 271(1)(b) - default of non-compliance of the statutory notice issued under section 142(1) r.w.s. 129 - where the assessment order was finally passed u/s...

 

Quick Updates:Latest Updates