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Income Tax Penalty

Payment to SEBI under Consent Order is Business Expenditure: ITAT deletes Penalty [Read Order]

Taxscan Team

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ), while deleting a penalty order, has held that the payments made to the Securities...

No Penalty for Cash Payment made out of Money from Unorganized Finance Sector due to Insistence of...

Non-Filing of TDS Statement would attract Late Fee & Rs. 1 Lakh Penalty: CBDT

Penalty Notice not specifying Charge is Defective: ITAT [Read Order]

Mere Non-production of Parties won’t constitute ‘Concealment’: ITAT deletes Penalty [Read Order]

No Penalty since Assessee surrendered Additional Income and paid Due Taxes: ITAT [Read Order]

The New Delhi bench of Income Tax Appellate Tribunal ( ITAT ) has ruled that the penalty cannot be levied since Assessee surrendered additional income and paid all the tax dues. The Assessee, an...

Non-Filing of Form 26A before DGIT (Systems) won’t attract Addition u/s 40(a)(ia): ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Cuttack on Monday held that if an assessee has filed Form 26A, not before the director general of income tax, then the assessee cannot be treated as an...

A Technical Venial Breach won’t attract Penalty u/s 272A(2)(k): ITAT [Read Order]

Kolkata bench of Income Tax Appellate Tribunal (ITAT) allowed the appeal in New India Assurance Co. Ltd versus JCIT and held that a technical venial breach would not attract penalty under section 272A...