Penalty u/s 271(1)(c) - disallowance of interest u/s 43B - ...

Income Tax

June 28, 2019

Penalty u/s 271(1)(c) - disallowance of interest u/s 43B - assessee has made sufficient disclosures in the financial statements and furthermore it should not be penalized on account of the mistake committed by the CA - there was no immediate tax benefit to the assessee by not disallowing the interest expenses since there was loss - no penalty

View Source

← Previous Next →

Penalty u/s 271(1)(c) - disallowance of interest u/s 43B - ...

Income Tax

June 28, 2019

You may also like:

Penalty u/s 271(1)(c) - The assessee cannot be accused of concealing his income or furnishing of inaccurate particulars of income as the disallowance has been made u/s 43B - AT

Penalty u/s 271(1)(c) - Disallowance of interest expenditure under section 43B as well as disallowance export product development expenses - Just because the assessee...

Penalty levied u/s 271(1)(c) - the mere disallowance under section 43B would not amount to concealment of income or furnishing inaccurate particulars of income - no penalty.

Penalty u/s 271(1)(c) - disallowance of interest expenditure - The findings of the AO may be sufficient to make disallowance in quantum on the theory of preponderance of...

Penalty u/s 271(1)(c) on addition made u/s 68 - the assessee has given sufficient explanation though not found satisfactory by AO - No merit in levying penalty.

Penalty u/s 271(1)(c) - Merely because, the assessee did not preferred any appeal against the said disallowance does not make it an inadvertent mistake - penalty confirmed - AT

Imposition of penalty u/s 271(1)(c) – mere admission of appeal by the High Court is sufficient to debar the penalty levied u/s.271(1)(c) of the Act - AT

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

Penalty u/s 271(1) (c) - additions/ disallowances made under normal provisions of the Act, if ultimately the tax liability is determined u/s 115JB - No penalty

Penalty u/s 271(1)(c) - for such lump-sum disallowance out of wages on the basis of presumption, no penalty u/s 271(1)(c) is leviable - AT

Quick Updates: