Penalty u/s 271(1)(c) - Disallowance u/s 40(a)(ia) - AO has not ...

Income Tax

August 22, 2022

Penalty u/s 271(1)(c) - Disallowance u/s 40(a)(ia) - AO has not applied his mind before initiating the penalty proceedings rather borrowed his satisfaction from the “tax audit report” and proceeded to initiate and levy the penalty which is not sustainable in the eyes of law. - Since the AO has not issued a valid notice by framing a specific charge to be initiated against the assessee rather invoked both the limbs of section 271(1)(c) of the Act for furnishing inaccurate particulars of income or for concealing the particulars of income no penalty can be imposed on the basis of the same. - AT

View Source

← Previous Next →

Penalty u/s 271(1)(c) - Disallowance u/s 40(a)(ia) - AO has not ...

Income Tax

August 22, 2022

You may also like:

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

Penalty u/s. 271(1)(c) for under reporting income - defective notice - The Tribunal agrees with the appellant's argument, emphasizing that the AO did not apply his mind...

Disallowance u/s 40(a)(ia) - default u/s 201(1) - scope of amendment - second proviso to Section 40(a)(ia) of I.T. Act is curative in nature and has retrospectively.

Penalty u/s 271(1)(c) - recording of satisfaction - mere direction in the assessment order to initiate penalty proceedings - Concealment/furnishing inaccurate...

Disallowance u/s 40(a)(ia) on payment of salary - TDS u/s 192B - in Section 40(a)(ia), the word “Salary” have not been incorporated - no disallowance

Disallowance of expenditure u/s 40(a)(ia) – Whether disallowance of expenditure u/s 40(a)(ia) is ‘eligible profit’ from housing project u/s.80IB(10) - Held Yes - AT

Levy of Penalty u/s 271(1)(c) in case of voluntary surrender of income - disallowance of claim of loss - Assessee offered the loss voluntarily to avoid litigation and...

Penalty levied u/s 271(1)(c) - disallowance u/s 40 (a)(ia) only for lack of payment of TDS while the payment was bonafide - Though the failure on the part of the...

Penalty proceedings initiated u/s 271(1)(c) is void ab initio and liable to be quashed as the AO has issued vague notice u/s 274 r.w.s. 271(1)(c) without striking off of...

Disallowance on work penalty expenses u/s 40(a)(ia) - Whether the work penalty expenses were actually interest expenses liable to provisions of TDS – Held No - HC

Quick Updates: