Penalty u/s 271(1)(c) - Bogus purchases - no clinching material ...

Income Tax

April 10, 2021

Penalty u/s 271(1)(c) - Bogus purchases - no clinching material had been brought on record by the revenue which could disprove the authenticity of the purchases claimed by the assessee to have been made from the aforementioned parties thus, no penalty under Sec.271(1)(c) could have validly been imposed upon him. - AT

View Source

← Previous Next →

Penalty u/s 271(1)(c) - Bogus purchases - no clinching material ...

Income Tax

April 10, 2021

You may also like:

Penalty u/s 271(1)(c) - bogus purchases - No clinching material had been brought on record by the revenue which could disprove the authenticity of the purchases claimed...

Levy of penalty u/s 271(1)(c) - disallowance of bogus purchases by applying the profit rate - Once there is no reason to disbelieve the sales made by the assessee and...

Monetary limit for filing of appeal by revenue in case of penalty - Penalty u/s 271(1)(c) on bogus purchases - Quantum proceedings and penalty proceedings are...

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

Penalty u/s 271(1)(c) - non recording of satisfaction - When satisfaction for initiation of penalty proceedings u/s 271(1)(c) of IT Act is recorded by the AO in...

Penalty u/s. 271(1)(c) - recording of specific finding or not? - In para 7 of the penalty order u/s. 271(1)(c), the Assessing Officer held that it is found to be a fit...

Penalty u/s 271(1)(c) - bogus claim of deduction under Section 35CCA - penalty under Section 271(1)(c) was rightly imposed - HC

Penalty u/s 271(1)(c) - Estimation of income on bogus purchases - Once the quantitative details of purchases and the corresponding quantitative sales have not been...

Penalty u/s 271(1)(c) - Bogus purchases - we are of a strong conviction that in the absence of documentary evidence supporting the genuineness of the purchases claimed...

Penalty u/s 271(1)(c) - when the assessee has not brought on record any evidence to prove the genuineness of the share premium and has also miserably failed to establish...

Penalty u/s 271(1)(c) - Addition of bogus purchases - Tribunal in quantum proceedings reduced to 12.5% of such purchases - since income has been estimated by applying a...

Penalty u/s 271(1)(b) - assessee did not comply with the notice issued u/s 142(1) of the Act requiring the assessee to furnish certain information - Neither the AO nor...

Penalty u/s 271(1)(C) - addition sustain on Bogus purchases - When it is not discernible from the assessment order as to whether assessee has furnished inaccurate...

Penalty levied u/s 271(1)(c) - disallowance of the deduction claimed by the assessee u/s 35 - AO has not brought out his case as to why penalty u/s.271(1)(c) of the Act...

Levy penalty u/s 271(1)(c) - since no specific satisfaction has been recorded by the Ld. Assessing Officer either in the body of the assessment order or in the show...

Quick Updates: