Read all Latest Updates on and about Section 271(1) (c) of the Income Tax Act

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Section 271(1) (c) of...

ITAT quashes Penalty on Depreciation Claim: Section 271(1)(c) Not To be Applied for Honest Mistakes [Read Order]

Eeva Mary Sanil

The Surat bench of the Income Tax Appellate Tribunal (ITAT), in a recent ruling, gave relief to the assessee, setting aside a penalty imposed under...

ITAT holds Penalty u/s 271(1)(c) Unjustified in Absence of Malafide Intent, rejects Precedent [Read...

Income Tax Annual Digest 2024: ITAT Cases [Part 27]

No Specification of Concealment or Inaccurate Particulars in SCN: ITAT rescinds Rs.10 Crore Income...

S. 271(1)(c) of Income Tax not attractable when Assessee fully disclosed particulars in Returns...

ITAT Deletes Penalty u/s 271(1)(c) of Income Tax Act, Citing No Inaccurate Income Particulars or Deliberate Concealment [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under Section 271(1) (c) of the Income Tax Act, 1961 concluding there was no furnishing of inaccurate particulars of...

Taxpayer voluntarily clarifies discrepancy in Lease Equalization Disallowance without Malicious Intent: ITAT deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under Section 271(1)(c) of the Income Tax Act, 1961 as the taxpayer voluntarily clarified the discrepancy in lease...

Non-striking of Irrelevant Matter would Render Income Tax Penalty Notice Defective: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) recently quashed a pre-drafted penalty notice that included both concealed and inaccurately furnished income particulars. The...

Accepting stamp authority valuation not proof of incorrect sale consideration: ITAT removes penalty u/s 271(1)(c) of Income Tax Act [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under Section 271(1)(c) of the Income Tax Act, 1961, stating that merely agreeing to an addition based on the...

Assessee should be aware that Department have discovered escapement of income: ITAT deletes penalty u/s 271 (1) (C) of Income Tax Act [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under Section 271(1) (c) of the Income Tax Act, 1961, stating that the assessee should be aware that the...

Defect in Notice u/s 271(1)(c) of IT Act issued in 1993 cannot be raised, even in absence of prejudice to Assessee: Bombay HC [Read Order]

In a significant case, the Bombay High Court held that defect in notice under Section 271(1)(C) of the Income Tax Act 1961 issued in 1993 could not be raised, even in the absence of prejudice to the...

ITAT quashes Penalty Order as Non-Filing of Income Tax Return and Concealing Particulars Cannot be Levied u/s 271(1)(c) [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently quashed the penalty order as the non-filing of income return and concealing particulars cannot be levied under Section 271(1)(c)...