Penalty u/s 271(1)(c) - deduction under Section 80P - Tribunal ...

Income Tax

March 21, 2022

Penalty u/s 271(1)(c) - deduction under Section 80P - Tribunal has recorded a finding of the fact that there is no evidence of concealment of income. Tribunal has concluded that the appellant had made a legitimate claim for exemption under section 80P(2)(a)(i) which was purely a legal in nature and even on rejection of such a claim, no penalty is leviable. - order of ITAT does not suffer from any legal infirmity. - HC

View Source

← Previous Next →

Penalty u/s 271(1)(c) - deduction under Section 80P - Tribunal ...

Income Tax

March 21, 2022

You may also like:

Deduction u/s 80P - interest income - The tribunal noted that section 80P(2)(a)(i) allows deduction for cooperative societies engaged in banking or providing credit...

Eligibility of Deduction u/s 80P - bank interest earned from cooperative banks - The Appellate Tribunal found that even if the interest income is not considered as...

Penalty u/s. 271(1)(c) - deduction u/s. 80GGC denied - second round of appeal - the Tribunal ruled in favor of the assessee, holding that the claim for deduction was...

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) – Tribunal proceeded on hyper- technicalities and acted as though every seizure must entail initiation of proceedings u/s 271 of the Act - no penalty - HC

Validity of Adjustment done by the CPC u/s 143 (1)(a)(v) - Deduction u/s 80P disallowed - Prior to amendment in deduction u/s 143(1)(a)(v) by Finance Act on 01.04.2021,...

Penalty u/s 271(1)(c) - Tribunal was required to consider post-amended provision of section 271 [1] of the Act. - HC

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) on addition made u/s 68 - the assessee has given sufficient explanation though not found satisfactory by AO - No merit in levying penalty.

Penalty u/s 271(1)(c) - The finding of the authorities based on the evidence of the valuer, which was corroborated by the circumstantial evidence - Levy of penalty confirmed - HC

Quick Updates: