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

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Penalty u/s 271(1)(c) Not Justified For Indian Overseas Bank’s Mistaken DTAA Claim on Hong Kong Income: Madras HC [Read Order]

In a recent ruling, the Madras High Court has held that a penalty under Section 271(1)(c) of the IncomeTax Act cannot be imposed on the Indian...

Penalty to be Levied on Tax Amount Sought to be Evaded: ITAT Reduces Penalty u/s 271(1)(c) After...

ITAT grants Delta Air Lines Inc. exemption under Article 8 of India-USA DTAA for Code Sharing...

Disallowance Restricted to 12.5% in Quantum Appeal: ITAT Deletes Penalty Citing Faulty Charge [Read...

Penalty u/s 271(1)(c) of the Income Tax Act Requires Verification of Loss: ITAT Orders...

Relief to Aircel Ltd: Madras HC quashes Income tax Penalty Proceedings as No hearing Granted, Hardly 24 Hrs Granted to Furnish Reply [Read Order]

While granting the relief to Aircel Limited, the Madras High Court has quashed the income tax penalty proceedings initiated against the company under Section271(1)(c) of the Income Tax Act, 1961,...

Deduction Claim on Unpaid Ad-hoc Bonus from AY 1984-85: Bombay HC Quashes ₹12L Income Tax Penalty from 2002 ITAT Order citing Plausibility [Read Order]

The Bombay High Court recently set aside a penalty of ₹12,82,700 imposed on Carona Limited, noting that merely claiming deduction on unpaid ad-hoc bonus could not attract penalty under Section...

Delhivery Receives ₹1.36 Crore Income Tax Penalty Order

Logistics and supply chain services provider Delhivery Limited has reported that it has received an order under Section 271(1)(c) of the Income Tax Act, 1961, imposing a penalty of Rs. 1,36,95,768....

Defective Income Tax Notice Invalidates S. 271(1)(C) Proceedings: ITAT Deletes Penalty [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has set aside a penalty of Rs. 13,44,580 imposed under Section 271(1)(c) of the IncomeTax Act, 1961, citing the defective income tax notice...

Penalty u/s 271(1)(c) of Income Tax Invalid Without Clear Specification of Grounds in Notice: Delhi HC [Read Order]

The Delhi High Court has reaffirmed that penalty proceedings under Section 271(1)(c) of the Income Tax Act, 1961, cannot be sustained if the notice issued does not clearly specify the ground, whether...

‘Clear-Cut Case of Concealment’: ITAT Upholds Penalty Under Section 271(1)(c) for Rs 2.65 Crore Bogus Share Capital [Reaed Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has upheld a penalty of Rs. 95,10,463 imposed under Section 271(1)(c) of the Income Tax Act, 1961, on the assessee, UGS Finance Pvt. Ltd....

Taxpayer Underreports Income by Claiming Inadmissible Expenses: ITAT Confirms Penalty [Read Order]

The Raipur Bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961, against the assessee for underreported income by...