![ITAT Imposes Penalty on Assessee for Violating Section 269SS with Cash Transactions Exceeding Rs.20,000 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Penalty-Assessee-Violating-Cash-Transactions-Exceeding-taxscan.jpg "ITAT Imposes Penalty on Assessee for Violating Section 269SS with Cash Transactions Exceeding Rs.20,000 [Read Order]")
ITAT Imposes Penalty on Assessee for Violating Section 269SS with Cash Transactions Exceeding Rs.20,000 [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) held that the assessee not having any reasonable cause for accepting the...
![Service Tax Leviable on Any Undertakes Technical, Inspection and Certification service which Is Not Sovereign Function : CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Service-Tax-Inspection-Certification-service-Service-Tax-Leviable-on-Any-Undertakes-Technical-CESTAT-taxscan.jpg "Service Tax Leviable on Any Undertakes Technical, Inspection and Certification service which Is Not Sovereign Function : CESTAT [Read Order]")
![CESTAT upholds Penalty for Confiscation of 6kg Emirates Gold and Packing Machines on ground of Illicit Smuggling [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/CESTAT-Upholds-Penalty-Confiscation-Emirates-Gold-Packing-Machines-Illicit-Smuggling-taxscan.jpg "CESTAT upholds Penalty for Confiscation of 6kg Emirates Gold and Packing Machines on ground of Illicit Smuggling [Read Order]")
![ITAT deletes Penalty u/s 271B of Income Tax Act as Turnover was below 2 Crores as Prescribed u/s 44AD [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-deletes-Penalty-Income-Tax-Act-as-Turnover-was-below-2-Crores-as-Prescribed-TAXSCAN.jpg "ITAT deletes Penalty u/s 271B of Income Tax Act as Turnover was below 2 Crores as Prescribed u/s 44AD [Read Order]")
RBI imposes Monetary Penalties on Four Co-operative Banks of Gujarat and West Bengal for Non-Compliance with Regulatory Directions [Read Order]
The Reserve Bank of India (RBI) has imposed a monetary penalty of rupees 6 lakhs on 4 Co-operative Banks of Gujarat and West Bengal for non-Compliance with regulatory directions. The co-operative...
No information in respect of Interest on Income Tax Refund to tax available at time of filing Return of Income: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench while deleting the penalty imposed under Section 270A Income Tax Act, 1961 observed that no information received was by assessee in respect...
![No information in respect of Interest on Income Tax Refund to tax available at time of filing Return of Income: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/No-information-respect-Interest-Income-Tax-Refund-tax-available-time-of-filing-Return-of-Income-ITAT-deletes-Penalty-taxscan.jpg "No information in respect of Interest on Income Tax Refund to tax available at time of filing Return of Income: ITAT deletes Penalty [Read Order]")
Disallowance of Income Tax deduction on Business Expenditure for Payment of Penalty to Clients/Customers for Breach of Contract: ITAT Remands Ex-parte Order to AO for Re-adjudication
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) remanded the ex-parte order to the files of Assessing Officer for re-adjudication in regards to the disallowance of deduction on business...
Advance Received by Assessee Constitutes a "Gift" and therefore Exempt from Penalty u/s 271D of the Income Tax Act: ITAT Dismisses Appeal [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that the donor has amply expressed the intention that the advances were given merely as gifts since the inception thus upheld the order...
![Advance Received by Assessee Constitutes a Gift and therefore Exempt from Penalty u/s 271D of the Income Tax Act: ITAT Dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Advance-Received-by-Assessee-Gift-Exempt-from-Penalty-Income-Tax-Act-ITAT-Dismisses-Appeal-taxscan-1.jpg "Advance Received by Assessee Constitutes a Gift and therefore Exempt from Penalty u/s 271D of the Income Tax Act: ITAT Dismisses Appeal [Read Order]")
ITAT deletes Penalty u/s 271AAA of Income Tax Act Due to Lack of Opportunity to Explain Undisclosed Income Source During Search Proceedings [Read Order]
The Income Tax Appellate Tribunal (ITAT ) Delhi bench deleted the penalty under section 271AAA of the Income Tax Act, 1961 due to lack of opportunity to explain the undisclosed income source during...
![ITAT deletes Penalty u/s 271AAA of Income Tax Act Due to Lack of Opportunity to Explain Undisclosed Income Source During Search Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-deletes-Income-Tax-Act-Due-to-Lack-of-Opportunity-to-Explain-Undisclosed-Income-Source-During-Search-Proceedings-TAXSCAN.jpg "ITAT deletes Penalty u/s 271AAA of Income Tax Act Due to Lack of Opportunity to Explain Undisclosed Income Source During Search Proceedings [Read Order]")
No Penalty Imposable u/s 76 of Finance Act on Construction Service prior to 01.06.2007: CESTAT sets aside Penalty [Read Order]
The Kolkata Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) quashed the penalty imposed under the category of construction service and held that no penalty can be imposed...
![No Penalty Imposable u/s 76 of Finance Act on Construction Service prior to 01.06.2007: CESTAT sets aside Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/No-Penalty-Imposable-Finance-Act-on-Construction-Service-prior-CESTAT-Set-asides-Penalty-TAXSCAN.jpg "No Penalty Imposable u/s 76 of Finance Act on Construction Service prior to 01.06.2007: CESTAT sets aside Penalty [Read Order]")
CESTAT Quashes Service Tax Demand on Group Life Insurance Schemes on ground of Benefit of Closure u/s 73(3) of Finance Act [Read Order]
The Hyderabad bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) quashed the service tax demand imposed on group life insurance schemes on the ground of benefit of closure...
![CESTAT Quashes Service Tax Demand on Group Life Insurance Schemes on ground of Benefit of Closure u/s 73(3) of Finance Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/CESTAT-Quashes-Service-Tax-Demand-Group-Life-Insurance-Schemes-ground-Closure-Finance-Act-TAXSCAN.jpg "CESTAT Quashes Service Tax Demand on Group Life Insurance Schemes on ground of Benefit of Closure u/s 73(3) of Finance Act [Read Order]")