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No Penalty u/s 271AAA on Surrendered Income without Statement recorded under Income Tax Act: ITAT [Read Order]

No Penalty u/s 271AAA on Surrendered Income without Statement recorded under Income Tax Act: ITAT...

Devanand T R
Levy of 100% of Tax sought to be Evaded u/s 271AAA of Income Tax Act is Not “Typographical Error”: ITAT [Read Order]

Levy of 100% of Tax sought to be Evaded u/s 271AAA of Income Tax Act is Not “Typographical Error”:...

Aparna. M
Once Addition is set aside by the Tribunal, subsequent penalty cannot Survive: ITAT [Read Order]

Once Addition is set aside by the Tribunal, subsequent penalty cannot Survive: ITAT [Read Order]

Taxscan Team
ITAT confirms Penalty levied u/s 271AAA on Admission of Undisclosed Income by Assessee [Read Order]

ITAT confirms Penalty levied u/s 271AAA on Admission of Undisclosed Income by Assessee [Read Order]

Taxscan Team

ITAT deletes penalty on Undisclosed Income u/s 271AAA [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench deleted the penalty on Undisclosed Income under section 271AAA of the Income Tax Act. The search and seizure action and surveys were carried...

ITAT deletes penalty on Undisclosed Income u/s 271AAA [Read Order]
Taxscan Team

Penalty u/s 271(1)(c) not imposable for Undisclosed Income detected on Search initiated before Assessment Year: ITAT [Read Order]

The Delhi bench Income Tax Appellate Tribunal (ITAT) comprising Shri Challa Nagendra Prasad, judicial member & Shri Pradip Kumar Kedia, accountant member The assessee, M/s. BLK...

Penalty u/s 271(1)(c) not imposable for Undisclosed Income detected on Search initiated before Assessment Year: ITAT [Read Order]
Taxscan Team

No Penalty since Assessee surrendered Income during Assessment Proceedings: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that penalty under Section 271AAA of the Income Tax Act, 1961 cannot be levied if assessee surrendered the income during the course of...

No Penalty since Assessee surrendered Income during Assessment Proceedings: ITAT [Read Order]
Taxscan Team

No Penalty since Assessee Voluntarily Surrendered Income, Paid Tax and Explained Its Source: ITAT [Read Order]

While dismissing a departmental appeal, the Delhi ITAT ruled that penalty under section 271AAA of the Income Tax Act cannot be levied since Assessee voluntarily surrendered Income, paid Tax and...

No Penalty since Assessee Voluntarily Surrendered Income, Paid Tax and Explained Its Source: ITAT [Read Order]
Taxscan Team

Delhi HC confirms Penalty since Assessee not Disclosed the Source of Income [Read Judgment]

In a recent ruling, Commissioner of Income Tax vs. Ritu Singal, the Delhi High Court has confirmed the penalty since the Assessee has not disclosed the source of Income. The assessee in the instant...

Delhi HC confirms Penalty since Assessee not Disclosed the Source of Income [Read Judgment]
Taxscan Team

Penalty u/s 271AAA can’t be Levied since No Search had Taken Place: ITAT [Read Order]

The New Delhi bench of ITAT in the case of DCIT versus Jainco Developers Pvt. Ltd therein held that Penalty under Section 271AAA of the Income Tax Act can’t be levied since no search had taken place...

Penalty u/s 271AAA can’t be Levied since No Search had Taken Place: ITAT [Read Order]
Taxscan Team

No Penalty If Assessee Admitted Income during Search and Paid Tax: ITAT [Read Order]

The Income Tax Appellate Tribunal Bangalore bench held that penalty under section 271AAA of the Income Tax Act should not be levied if the assessee admitted his income during the search proceedings...

No Penalty If Assessee Admitted Income during Search and Paid Tax: ITAT [Read Order]
Taxscan Team

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