Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights March 2013 Year 2013 This

Penalty u/s 271(1)(c) - commodity futures trading and broking - ...

Income Tax

March 11, 2013

Penalty u/s 271(1)(c) - commodity futures trading and broking - client code modifications - unauthorised modification in the code - is is not a case where conscious and dishonest conduct of the assesse has been proved - no penalty - AT

View Source

 


 

You may also like:

  1. Additions on account of Client-code modification (CCM) - undisclosed profit on future and option transaction in shares - Whole basis of making additions in the hands of...

  2. Validity of reopening of assessment u/s 147 - basis of client code modification - Merely, there were client codes modifications carried out by the broker cannot the...

  3. Addition of losses by using Client Code Modification - Appellant has not given satisfactory explanation with respect to the losses incurred by using Client Code...

  4. 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...

  5. Penalty u/s 271AAA or 271(1)(c) - The penalties u/s 271(1)(c) and 271AAA are attracted in different situations and both are mutually exclusive. Having initiated the...

  6. Penalty levied u/s 271(1)(c) - Scope of penalty proceedings u/s 271(1)(c) of IT Act cannot be widened later to include within its scope such additions which were not...

  7. Penalty u/s 27(1)(c) - invocation of provisions of Section 263 - while the Pr.CIT could well initiate penalty u/s 271(1) if he proposed to effect modifications to the...

  8. Penalty u/s 271 AAB or u/s 271 (1)(c) - concealment on income - as per clause (2) of section 271AAB, no penalty under the provisions of clause (c) of sub-section (1) of...

  9. Addition u/s 43(5) - Loss in commodity derivatives trading business was non-speculative - Reading clause (e) of the first proviso to section 43(5), and sections 70(1)...

  10. Levy of Penalty u/s. 271(1)(c) - The ITAT ruled that since there was no variation between the returned and assessed income, there was no concealment of income by the...

  11. 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

  12. Penalty u/s 271(1)(c) - Penalty order did not specify the particular limb under which penalty u/s 271(1)(c) is levied. AO has not specified that penalty is either levied...

  13. 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...

  14. Penalty u/s.271(1)(c) or penalty u/s.271AAA - The provisions of Section 271AAA(3) of the Act specifically excludes the provisions of Section 271(1)(c) of the Act for the...

  15. Penalty u/s. 271(1)(c) - It cannot be said that assessee has concealed the particular income with the meaning of section 271(1)(c) of the Act or there is not deep...

 

Quick Updates:Latest Updates