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Income Tax - Highlights / Catch Notes

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Validity of penalty levied u/s 271(1)(c) where the validity of ...

Income Tax

November 22, 2023

Validity of penalty levied u/s 271(1)(c) where the validity of assessment order itself is in doubt - Assessment u/s 153A questioned on approval Granted u/s 153D - whether the assessment order can be challenged in the penalty proceedings? - The penalty levied by the AO in the penalty order framed under section 271(1)(c) of the Act is not sustainable. - AT

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  1. Penalty u/s 271 - validity of assessment proceedings can be looked into during the penalty proceedings even though the assessment itself has not been challenged by the assessee.

  2. Penalty u/s 271(1)(c) - assessee has accepted the additions made in the assessment does not by itself justify the imposition of penalty for concealment - AT

  3. Penalty u/s.271(1)(b) - no compliance to notice u/s 142(1) - The AO levied the penalty for non-compliance of notice dated 13.06.2016, however, there is no reference of...

  4. Validity of penalty orders u/s 271AAB - penalty notice issued under Section 274 read with Section 271 - penalty where the search has been initiated - levy of penalty sustained - HC

  5. 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

  6. 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

  7. Levy of penalty u/s 271(1)(c) - Once, all the documentary evidences were produced before the AO and sales are no doubted, it is doubtful, whether the purchases are bogus...

  8. 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

  9. Penalty u/s 271(1)(c) - Merely because assessee claimed depreciation at 25% treating items to be plant, which claim was not acceptable to revenue, would not by itself...

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

 

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