Penalty u/s 271(1)(c) - non disclosure of capital gain - whether ...

Income Tax

June 9, 2020

Penalty u/s 271(1)(c) - non disclosure of capital gain - whether the income was taxable in the assessment year 2012-13 as the land in dispute was handed over to the developer but the consideration was not received in the assessment year 2012-13? - the assessee explained that such income was not offered to tax under the bona fides believe that the same would be taxable upon the completion of the entire project. - there cannot be any penalty.

View Source

← Previous Next →

Penalty u/s 271(1)(c) - non disclosure of capital gain - whether ...

Income Tax

June 9, 2020

You may also like:

Penalty u/s 271(1)(c) - profits from sale and purchase of agricultural land shown as capital gain instead of profits and gains from business - No penalty - AT

LTCG - year of taxability on transfer of development rights in a plot of land - Year of Chargeability - CIT(A) held that capital gain is taxable in AY 2012-13 rather...

Capital Gain - Transfer of capital asset u/s 2(47) - year of assessment - since the property was actually transferred in A.Y. 2013-14 the computation of short-term...

Capital Gains Accounts (First Amendment) Scheme, 2012- Amendment in paragraphs 1, 2, 3, 4, 10, 13 and Forms A, C & G - Notification

During The Financial Year 2012-13 - Tax-Free, Secured, Redeemable, Non-Convertible Bonds - Notification

Penalty u/s 271(1)(c) – assessee has bonafide belief in making the claim that gain arising out of sale of agricultural land is exempt from tax - no penalty - AT

Nature of income in the hands of land developer (vendor) - third party agreement with land owner - the receipt would attract capital gains at his hands - HC

Explanation versus bona finde explanation versus proper disclosure - Penalty under section 271(1)(c) - AT

Penalty u/s 271(1)(c) - non disclosure of capital gain on sale of land in the income tax return - Sale consideration by applying the provisions of section 50C (i.e...

Penalty u/s 271(1)(c) - sale of property - non-disclosure of the second sale deed - penalty restricted to the extent of non-disclosure of the second sale deed to be...

Quick Updates: