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 May 2019 Year 2019 This

Penalty u/s. 271(1)(c) - cash deposit - defective notice - ...


Penalty Notice for Cash Deposit Lacks Specifics; Natural Justice Upheld; Defect Curable u/ss 292B & 29BB.

May 9, 2019

Case Laws     Income Tax     AT

Penalty u/s. 271(1)(c) - cash deposit - defective notice - notice is stereo typed printed notice in which either of the clauses as to whether penalty was invoked for furnishing of inaccurate particulars of income or for concealment of income was not struck off - Principles of natural justice were adhered to by Revenue - it is a curable defect within meaning of Section 292B and 29BB

View Source

 


 

You may also like:

  1. Penalty u/s 271 - Defective notice - the allegation should be specific and clear in the penalty notice also because the assessee has to submit reply in the course of...

  2. Cash deposit during demonetization period treated as unexplained cash credit. Assessee's claim of introducing cash as capital in proprietary concern not accepted due to...

  3. Addition u/s 69A - Addition of cash deposits made by the assessee during the demonetization period - The Tribunal examined the legality of the assessment order, the...

  4. The Income Tax Appellate Tribunal (ITAT) held that every non-compliance with a notice u/s 142(1) gives a separate cause of action for levying penalty u/s 271(1)(b)....

  5. ITAT upheld CIT(A)'s order, dismissing revenue's appeal regarding unexplained cash deposits under Section 68 and Section 115BBE. The tribunal found that the assessee...

  6. Validity of notice issued u/s 148 in absence of Document Identification Number (DIN) was rejected. The Court observed interim stay by Supreme Court on Delhi High Court's...

  7. Impugned show cause notice for cancellation of GST registration lacks specific allegations, violating principles of natural justice. Notice merely reproduces rule...

  8. Cash credit u/s 68 r.w.s. 115BBE - cash deposit during demonetization period - assessee's failure to maintain books of accounts u/s 44AD. Held that where exemption from...

  9. Unexplained cash deposits in bank - receipt of rental deposits in cash - The fact remains that the cash rental deposits have been received by the assessee which is not...

  10. Deposits by the assessee in bank account during demonetization period were not unexplained. Section 69A is inapplicable as there were proper entries for cash sales, cash...

  11. The assessee's unexplained cash credits u/s 68 were deleted by the CIT(A) after accepting the submissions that the cash receipts from various sources like cash sales,...

  12. Blocking of a supplier's credit ledger by mentioning 'Registration of supplier has been cancelled' without issuing a show cause notice violates principles of natural...

  13. The assessee, a septuagenarian gynecologist with no business income during the year, made cash deposits totaling Rs. 10 lakh in her bank account during demonetization....

  14. Addition u/s 69 - cash deposited in the bank out of opening cash in hand - AO noticed that the assessee had raised loans and also withdrawn cash numerous times...

  15. Levy of penalty u/s 271(1)(c) - Defective notice u/s 274 - Emphasizing the principles outlined by the Karnataka High Court, the Tribunal reaffirmed the importance of...

 

Quick Updates:Latest Updates