Penalty levied u/s 271(1)(c) – The penalty, if any, can be ...

Income Tax

October 13, 2012

Penalty levied u/s 271(1)(c) – The penalty, if any, can be levied in the hands of the person to whom the income actually belongs and not to the assessee in whose hands the department assessed the income on protective basis. - AT

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Penalty levied u/s 271(1)(c) – The penalty, if any, can be ...

Income Tax

October 13, 2012

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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

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

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

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

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

Penalty u/s 271(1)(b)- assessee refused to answer the notice u/s 142(1) - assessee was an attorney of some account holder - levy of penalty confimred - HC

Penalty levied u/s 271(1)(c) - Basis adopted during the assessment proceedings cannot be used in the penalty proceedings without following the due process. As such, to...

Penalty u/s 271(1) (c) - Defective notice - non specification of charge - ITAT rightly set-aside the order of the penalty levied on 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.

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