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 August 2019 Year 2019 This

Penalty u/s 271(1)(c) - assessment u/s 153A - addition was made ...

Income Tax

August 1, 2019

Penalty u/s 271(1)(c) - assessment u/s 153A - addition was made on the basis of admission of additional income in the statement u/s 132(4) - admission is not akin to disclosure of money, bullion, jewellery or diary and income disclosed representing this statement is not to be considered as concealed income - no penalty

View Source

 


 

You may also like:

  1. Penalty u/s 271(1)(c) - difference of income in the return filed u/s.139(1) and 153A - there was no such allegation that of assessee was found to be the owner of any...

  2. Penalty u/s 271(1)(c) - addition made on protected assessment - addition in this case was made on protected assessment/addition on estimated basis which is against the law - AT

  3. Addition merely on the basis of statement u/s. 132(4) - unaccounted income - additions sustaianed - HC

  4. Undisclosed Income - scope of statements recorded u/s 132(4) - admission of payment of Capitation Fee to the Engineering College does not mean ipso facto declaration of...

  5. Levy of Penalty u/s 271AAA or u/s 271(1)(c) - whether addition is made on estimation basis or on the basis of certain evidences, fact remains that the additions made in...

  6. 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

  7. Assessment u/s 153A - Addition u/s 68 - bogus LTCG - Except the statement of the assessee u/s. 132(4) agreeing for the addition there is no seized incriminating material...

  8. Voluntary admission u/s.132(4) - under invoicing of sales and unaccounted purchase of acid slurry - additions made on the basis of statement u/s 132(4) without having...

  9. Addition on account of income surrendered as per statement u/s 132(4) - though the statement recorded u/s 132(4) has a better evidentiary value but it is also a settled...

  10. Penalty u/sec. 271(1)(c) - income disclosed in search action - Ex-parte order - The Tribunal observed that the assessee admitted to suppressed receipts, which were...

 

Quick Updates:Latest Updates