Penalty u/s 271(1)(c) - addition made on account of mistake in ...

Income Tax

February 16, 2024

Penalty u/s 271(1)(c) - addition made on account of mistake in treating the income from transfer of depreciable asset as long-term capital gain instead of short term capital gain u/s 50 - The High Court allowed the appeal, stating that there was no concealment of income or furnishing of inaccurate particulars. It emphasized that a mere incorrect claim in law does not amount to furnishing inaccurate particulars.

View Source

← Previous Next →

Penalty u/s 271(1)(c) - addition made on account of mistake in ...

Income Tax

February 16, 2024

You may also like:

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

Penalty 271(1)(c) - additions on account of donation and charity, and on account of loss on sale of assets, which were debited to the profit and loss account - The ITAT...

Penalty u/s 271(1)(c) - when we examine penalty levied on account of salary disallowance AO has merely made adhoc addition by way of guess work and the AO has not...

Penalty u/s 271(1)(c) - accrual of income for assessee society - In assessee`s appeal assessing officer treated contribution towards welfare Fund and Hospital Fund as...

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...

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

Penalty u/s 271(1)(c) - addition u/s 68 - Penalty has been levied in a mechanical manner without application of mind. In our view, this is a serious mistake in the...

Monetary limit for filing of appeal by revenue in case of penalty - Penalty u/s 271(1)(c) on bogus purchases - Quantum proceedings and penalty proceedings are...

Penalty u/s 271(1)(c) - Penalty under section 271(1)(c) of the Act is leviable to be imposed only where the assessee has concealed its particulars of income or furnished...

Levy of penalty u/s 271(1)(c) - disallowance of bogus purchases by applying the profit rate - Once there is no reason to disbelieve the sales made by the assessee and...

Penalty u/s 271(1)(c) - addition on account of Transfer Pricing adjustment relating to payment of commission - it is evident that these are debatable issues - In any...

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...

Penalty u/s 271(1)(c) - A mere bonafide omission on the part of the assessee to account for the interest portion of the refund (which though had duly been reflected in...

Penalty levied u/s 271(1)(c) - disallowance of the deduction claimed by the assessee u/s 35 - AO has not brought out his case as to why penalty u/s.271(1)(c) of the Act...

Levy of Penalty u/s 271AAA or u/s 271(1)(c) - whether addition is made on estimation basis or on the basis of certain evidences, fact remains that the additions made in...

Quick Updates: