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 April 2020 Year 2020 This

Penalty levied u/s 271(1)(c) - Credit capital account with the ...

Income Tax

April 14, 2020

Penalty levied u/s 271(1)(c) - Credit capital account with the narration ‘Gift received’ - There is no merit in the levy of penalty under section 271(1)(c) of the Act where the initiation of penalty proceedings is without recording of satisfaction

View Source

 


 

You may also like:

  1. 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.

  2. Levy of penalty u/s 271(1)(c) - gift was received under bona fide belief that the same was a genuine gift - it was taxed during assessment proceedings but the penalty...

  3. Penalty under section 271(1)(c) - disallowance of capital expenditure of Research and Development - The facts material to the computation were not produced - levy of...

  4. Penalty u/s 271(1)(c) of the Income Tax Act – short term capital gains was not disclosed in the return of income - levy of penalty confirmed - AT

  5. Penalty levied u/s 271(1)(C) - deemed income being loss claimed and disallowed - The AO has also not specified the charge on which penalty is being levied - No penalty - AT

  6. Penalty u/s 271(1)(c) - credit worthiness and genuineness of the transaction - Gifts by family friends – the explanation given by the assessee is totally false -...

  7. Levy of penalty levied u/s 271(1)(c) - disallowance under section 40(a)(ia), does not amount to concealment of income - No penalty.

  8. Levy of penalty - there is change in opinion and basis for levy of penalty for concealment varies - there is no merit in levy of penalty under section 271(1)(c) of the...

  9. MAT is paid, additions were made to regular income, penalty not levied – 115JB, 271(1)(c)

  10. 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

 

Quick Updates:Latest Updates