Home Highlights April 2019 Year 2019 This

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1. Penalty u/s 271AAB - Defects in the notice issued u/s 274 - CIT(A) reduced the penalty to 10% applying provisions of Section 271AAB(a) of the Act as against penalty...

2. Penalty u/s 271AAB - admission of undisclosed income - assessment u/s 153B - defective notice - initiation of penalty proceedings u/s 271AAB without specifying the...

3. Penalty u/s 271AAB - defective notice - both the show cause notices issued by the AO for initiation of penalty proceedings u/s 271AAB are very vague and silent about the...

4. Legal implication of a promotional trailer - absence of specific content from the trailer in the movie - promotional trailer is an offer or a promise - unfair trade...

5. Penalty levied under section 271AAB of the Act on cash advances - the deeming fiction so envisaged in section 69 and 69B cannot be extended and applied automatically in...

6. Penalty levied u/s 271AAB - Undisclosed income - Assessee has neither made any surrender of any undisclosed income during the search action nor the penalty has been...

7. Penalty u/s 271AAB or 271AAA - non issue of notice u/s 274 read with Section 271AAB - corrigendum issued stating that Section 271AAA should be read as Section 271AAB -...

8. Penalty u/s 271AAB - there is no finding in the penalty order to this effect that undisclosed income so found and surrendered during the course of search falls under the...

9. Levy of penalty u/s 271(1)(c) - there was no specific charges as relates to concealment of income or furnishing of inaccurate particulars of income - There is separate...

10. Penalty u/s 271(1)(c) - The Appellate Tribunal observed that the appellant, during reassessment proceedings, had filed their return of income but failed to provide...

11. Levy of penalty u/s 271(1)(b) - failure to comply with notices u/s 142(1)/143(2) - it is not mentioned in the penalty order as to for which default of notice penalty has...

12. Penalty u/s 271 AAB or u/s 271 (1)(c) - concealment on income - as per clause (2) of section 271AAB, no penalty under the provisions of clause (c) of sub-section (1) of...

13. Penalty u/s.271AAB - Belated filing of regular return after search - Penalty cannot be levied u/s.271AAB of the Act, in respect of income disclosed in regular return of...

14. Penalty u/s. 271AAB - commodity profit as falling in the ken of the 'undisclosed income' - since the amount on which penalty is levied has been found at the time of...

15. Penalty u/s 271AAB - Addition u/s 69B - income shown suo-motto - additional income brought to tax by the Assessing Officer - none of the conditions for levy of penalty...