Additions towards share capital in question would not ipso facto tantamount to alleged concealment of income: ITAT deletes penalty
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench while deleting the penalty held that the Additions towards share capital in question would...
![CBDT assigns all Penalty cases to National Faceless Penalty Centre [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/CBDT-Penalty-cases-National-Faceless-Penalty-Centre-Taxscan.jpg "CBDT assigns all Penalty cases to National Faceless Penalty Centre [Read Order]")
![Penalty Proceedings shall not survive if Assessment is Debatable: Delhi High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/12/Penalty-Proceedings-Assessment-is-Debatable-Delhi-High-Court-Taxsan.jpg "Penalty Proceedings shall not survive if Assessment is Debatable: Delhi High Court [Read Judgment]")
![CBDT notifies Setting up of NFAC and RFAC under Faceless Appellate Scheme, 2020 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2020/09/CBDT-Faceless-Assessment-Scheme-Guidelines-Taxscan.jpg "CBDT notifies Setting up of NFAC and RFAC under Faceless Appellate Scheme, 2020 [Read Notification]")
![GST: NAA didn’t impose Penalty for denying benefit of ITC for Nestle Munch & Cadbury Dairy Milk as no penalty provisions existed [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/NAA-ITC-Penalty-Nestle-Taxscan.jpg "GST: NAA didn’t impose Penalty for denying benefit of ITC for Nestle Munch & Cadbury Dairy Milk as no penalty provisions existed [Read Order]")
GST: Delhi HC stays Penalty proceedings of 75 Cr. against Patanjali Ayurved by Anti-Profiteering Authority [Read Order]
The Delhi High Court on Friday stayed the penalty proceedings initiated against Patanjali Ayurved for allegedly profiteering Rs 75 crore through sale of its products. The stay was subjected to the...
![GST: Delhi HC stays Penalty proceedings of 75 Cr. against Patanjali Ayurved by Anti-Profiteering Authority [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/Patanjali-Ayurved-penalty-proceedings-Taxscan.jpg "GST: Delhi HC stays Penalty proceedings of 75 Cr. against Patanjali Ayurved by Anti-Profiteering Authority [Read Order]")
![Penalty Proceedings can’t be initiated without a specific Charge: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/06/PAN-Penalty-TAN-Taxscan.jpg "Penalty Proceedings can’t be initiated without a specific Charge: ITAT [Read Order]")
Compounding Charges must be computed by taking 100% of Amount of Tax sought to be Evaded: Gujarat HC follows CBDT Circular [Read Judgment]
The Gujarat High Court has held that for the purpose of computing Compounding charges, the expression "amount sought to be evaded" in CBDT's compounding guidelines dated 23.12.2014 means the amount of...
![Compounding Charges must be computed by taking 100% of Amount of Tax sought to be Evaded: Gujarat HC follows CBDT Circular [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/08/Compounding-Fee-Expenditure-Taxscan.jpg "Compounding Charges must be computed by taking 100% of Amount of Tax sought to be Evaded: Gujarat HC follows CBDT Circular [Read Judgment]")
Salaried Persons not required to maintain Books of Accounts unless they are engaged in Business or Profession: ITAT [Read Order]
The Kolkata bench of ITAT in the case of DCIT, CC-2(2), Kolkata versus Subhas Chandra Agarwala & Sons (HUF) ruled that a salaried Person is not required to maintain books of accounts unless he is...
![Salaried Persons not required to maintain Books of Accounts unless they are engaged in Business or Profession: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Salaried-Class-Taxscan.jpg "Salaried Persons not required to maintain Books of Accounts unless they are engaged in Business or Profession: ITAT [Read Order]")
Penalty proceedings initiated after Six months of receipt of Adjudicatory Order is barred by Limitation: Delhi HC [Read Judgment]
The Delhi High Court recently ruled that the penalty proceedings initiated after six months of receipt of the adjudicatory order is barred by Limitation under Section 275 (1) (a) of the Income Tax...
![Penalty proceedings initiated after Six months of receipt of Adjudicatory Order is barred by Limitation: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "Penalty proceedings initiated after Six months of receipt of Adjudicatory Order is barred by Limitation: Delhi HC [Read Judgment]")
![ITAT Deletes Penalty against Balaji Motion Pictures [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Balaji-Motion-Pictures.jpg "ITAT Deletes Penalty against Balaji Motion Pictures [Read Order]")
ITAT Deletes Penalty since Non- offering of LTCG to tax was out of Ignorance of Assessee [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that penalty under section 271(1)(c) of the Income Tax Act 1961 cannot be levied since non-offering of Long Term Capital Gain (LTCG)...