IBBI Imposes Penalty on IP for his Negligence to Take Ordinary Due Care and Caution in Selling Asset Corporate Debtor [Read Order]
The Insolvency and Bankruptcy Board of India (IBBI) imposed a penalty on Insolvency Professional for his negligence of ordinary due care and caution...
![Transaction Between 2 Companies Cannot come u/s 269SS on Amalgamation: ITAT Deletes Penalty u/s 271E [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Transaction-Between-2-Companies-Transaction-2-Companies-Amalgamation-ITAT-Deletes-Penalty-taxscan-Income-tax-itat-.jpg "Transaction Between 2 Companies Cannot come u/s 269SS on Amalgamation: ITAT Deletes Penalty u/s 271E [Read Order]")
![Penalty Imposed u/s 270A of IT Act for Misreporting of Income without Application of Mind: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-IT-Act-misreporting-of-income-ITAT-directs-re-adjudication-Penalty-imposed-IT-Act-ITAT-re-adjudication-Taxscan.jpg "Penalty Imposed u/s 270A of IT Act for Misreporting of Income without Application of Mind: ITAT directs Re-adjudication [Read Order]")
![ITAT confirms Penalty for Deliberate Concealment of Income u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-confirms-Penalty-for-Deliberate-Concealment-of-Income-ITAT-Penalty-Income-Concealment-of-Income-Taxscan.jpg "ITAT confirms Penalty for Deliberate Concealment of Income u/s 271(1)(c) [Read Order]")
![Difference in Income Declaration by Assessee and AO does not Amount to Furnishing Inaccurate Particulars: ITAT deletes Penalty u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Difference-in-Income-Declaration-by-Assessee-and-AO-Amount-to-Furnishing-Inaccurate-Particulars-ITAT-deletes-Penalty-TAXSCAN.jpg "Difference in Income Declaration by Assessee and AO does not Amount to Furnishing Inaccurate Particulars: ITAT deletes Penalty u/s 271(1)(c) [Read Order]")
Penalty imposed u/s 270A of Income Tax Act on Non-Disclosure of Interest Income in ROI is valid: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the penalty imposed under Section 270A of the Income Tax Act, 1961 on grounds of non-disclosure of interest income in Return of...
![Penalty imposed u/s 270A of Income Tax Act on Non-Disclosure of Interest Income in ROI is valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-Income-Tax-Act-Income-Tax-Non-Disclosure-of-Interest-Income-in-ROI-is-valid-ITAT-Income-Taxscan.jpg "Penalty imposed u/s 270A of Income Tax Act on Non-Disclosure of Interest Income in ROI is valid: ITAT [Read Order]")
ITAT deletes Penalty u/s 271A for Estimation-Based Addition and Lack of Reference to Assessee's Books [Read Order]
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted the penalty under Section 271 A for estimation-based addition with a lack of reference to the Assessee’s books. ...
![ITAT deletes Penalty u/s 271A for Estimation-Based Addition and Lack of Reference to Assessees Books [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-deletes-Penalty-ITAT-Penalty-Estimation-Based-Addition-and-Lack-of-Reference-to-Assessees-Books-Estimation-Based-Addition-Addition-Assessees-Books-Taxscan.jpg "ITAT deletes Penalty u/s 271A for Estimation-Based Addition and Lack of Reference to Assessees Books [Read Order]")
ITAT deletes Penalty u/s 271(1)(b) and 272A(1)(b) for Improper Procedure in Issuance of Income Tax Notice [Read Order]
The Amritsar Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted the penalty under Sections 271(1)(b) and 272A(1)(b) of the Income Tax Act due to improper procedure in issuance of...
![ITAT deletes Penalty u/s 271(1)(b) and 272A(1)(b) for Improper Procedure in Issuance of Income Tax Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-deletes-Penalty-ITAT-Penalty-Improper-Procedure-Issuance-of-Income-Tax-Notice-Income-Tax-Notice-Income-Tax-Notice-Tax-Notice-taxscan-1.jpg "ITAT deletes Penalty u/s 271(1)(b) and 272A(1)(b) for Improper Procedure in Issuance of Income Tax Notice [Read Order]")
Penalty Not Imposable for Non-Submission of Audit Report due to Reasonable Cause u/s 273B of IT Act: ITAT [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal(ITAT) held that no penalty shall be imposed for non-submission of audit reports due to reasonable cause under section 273B of the Income Tax...
![Penalty Not Imposable for Non-Submission of Audit Report due to Reasonable Cause u/s 273B of IT Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-Not-Imposable-for-Non-Submission-of-Audit-Report-due-to-Reasonable-Cause-IT-Act-ITAT-TAXSCAN.jpg "Penalty Not Imposable for Non-Submission of Audit Report due to Reasonable Cause u/s 273B of IT Act: ITAT [Read Order]")
Service Tax excess Paid can be adjusted against Succeeding month or Quarter: CESTAT sets aside Penalty Order [Read Order]
The Delhi Bench of Customs Excise and Services Tax Appellate Tribunal (CESTAT) has set aside the both service demand and penalty order imposed against the appellant by the department and observed...
![Service Tax excess Paid can be adjusted against Succeeding month or Quarter: CESTAT sets aside Penalty Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Service-Tax-CESTAT-Service-Tax-excess-paid-Penalty-Order-taxscan.jpg "Service Tax excess Paid can be adjusted against Succeeding month or Quarter: CESTAT sets aside Penalty Order [Read Order]")