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Penalty Proceedings

Displacement of fair market value supported by valuation report by AO: ITAT deletes penalty u/s 271(1)(c) of Income Tax Act [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the imposition of penalty under section 271(1)(c) of the Income Tax Act...

Fresh Assessment Order under Income Tax Act passed without Revising Penalty Proceeding: Kerala HC...

Penalty Proceedings under Income Tax Act initiated on wrong assumption: Madras HC sets aside the...

Relief to Agriculturist and Auto Driver: Bombay HC quashes Sanction and Assessment Order given u/s...

Notice u/s 271 (1)(c) of Income Tax Act issued Without Specifying Charge and Striking off Irrelevant...

No Penalty u/s 271(1)(c) can be Imposed, Without Assistance of Assessee in Prosecuting the Levy of Penalty Proceedings: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, held that no penalty under Section 271(1)(c) can be imposed, without the assistance of the assessee...

Non-Specifying of Specific Limb in Penalty Notice will not Invalidate Penalty Proceedings When Assessee is a Non-filer: ITAT

The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has held that non specifying of specific limb in penalty notice would not invalidate penalty proceedings when assessee had been a...

Defect in Statutory Notice in Not Striking Out of Irrelevant Ground Vitiates Penalty Proceedings: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, in an appeal filed before it, held that defect in statutory notice in not striking out of irrelevant ground vitiates penalty...

Mere Ignorance of Law cannot be a Reason to Quash Penalty Proceedings: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad bench has held that mere ignorance of law cannot be a reason to quash penalty under the Income Tax Act, 1961. The assessee, an individual has...

Income Tax: No Penalty leviable if Addition made on Bogus Purchases is on estimated basis, rules ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench ruled that penalty is not leviable if addition made on bogus purchases is on an estimated basis. The assessee, M/s. Toshvin Analytical...

penalty - bogus purchases- ITAT - Taxscan

Penalty under Wealth Tax Act can’t be levied without any specific findings: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Rajkot Bench held that the penalty under Wealth Tax Act can not be levied without any specific findings. The assessee, Yannaben Anilbhai Jethani is an...

Penalty proceedings u/s 271(1)(c) not sustainable if reason not specified: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that the penalty proceedings under section 271(1)(c) are not sustainable if the reason is not specified. The assessee, HN Reacon is...

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