![Addition under Deeming Provision of S. 50C cannot Attract Income Tax Penalty for Concealment of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Deeming-Provision-Income-Tax-Penalty-Income-ITAT-TAXSCAN.jpg "Addition under Deeming Provision of S. 50C cannot Attract Income Tax Penalty for Concealment of Income: ITAT [Read Order]")
Addition under Deeming Provision of S. 50C cannot Attract Income Tax Penalty for 'Concealment of Income': ITAT [Read Order]
In an assessee-favouring ruling, the Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the addition under section 50C, being a...
![Absence of Corroborative Evidence on Misclassification as Ingredients to invoke Extended Period of Limitation u/s 11A, No Penalty: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/corroborative-evidence-penalty-CESTAT-taxscan.jpeg "Absence of Corroborative Evidence on Misclassification as Ingredients to invoke Extended Period of Limitation u/s 11A, No Penalty: CESTAT [Read Order]")
![Ex parte Assessment Order passed in Violation of Principles of Natural Justice, entails Civil Consequences: Patna HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Ex-parte-Ex-parte-Assessment-Order-Assessment-Order-Violation-of-Principles-of-Natural-Justice-Natural-Justice-Civil-Consequences-Patna-High-Court-taxscan.jpg "Ex parte Assessment Order passed in Violation of Principles of Natural Justice, entails Civil Consequences: Patna HC [Read Order]")
![Penalty u/s 271AAA can be Imposed When Assessee accepted Undisclosed Income in section 132(4) statement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Penalty-Undisclosed-Income-statement-ITAT-TAXSCAN.jpg "Penalty u/s 271AAA can be Imposed When Assessee accepted Undisclosed Income in section 132(4) statement: ITAT [Read Order]")
![Relief to Nagarjuna Oil Corporation, Section 271(1)(c) Penalty cannot be imposed on debatable issue: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Nagarjuna-Oil-Corporation-Nagarjuna-Oil-Penalty-debatable-issue-ITAT-taxscan-.jpg "Relief to Nagarjuna Oil Corporation, Section 271(1)(c) Penalty cannot be imposed on debatable issue: ITAT [Read Order]")
Distributorship Contracts Alone would not Attract Penalty for Cash Transaction Exceeding Rs. 2 Lakh for Co-operative Societies: CBDT [Read Circular]
The Central Board of Direct Taxes ( CBDT ) has issued an instruction clarifying that the provisions of section 269ST of the Income Tax Act, 1961 for the imposition of penalty for cash transactions...
![Distributorship Contracts Alone would not Attract Penalty for Cash Transaction Exceeding Rs. 2 Lakh for Co-operative Societies: CBDT [Read Circular]](https://www.taxscan.in/wp-content/uploads/2022/12/Distributorship-Contracts-Penalty-Cash-Transaction-Co-operative-Societies-CBDT-taxscan.jpg "Distributorship Contracts Alone would not Attract Penalty for Cash Transaction Exceeding Rs. 2 Lakh for Co-operative Societies: CBDT [Read Circular]")
Procedural Incompliances in Trial: Sessions Court at Chennai sets aside Conviction under Customs Act [Read Order]
The appellants / accused were convicted under Section 132 and 135(1)(a) of the Customs Act, 1962 read with Section 3(3) of the Foreign Trade (Development & Regulation) Act, 1992 and the 1st...
![Procedural Incompliances in Trial: Sessions Court at Chennai sets aside Conviction under Customs Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Procedural-Trial-Sessions-Court-Customs-Act-TAXSCAN.jpg "Procedural Incompliances in Trial: Sessions Court at Chennai sets aside Conviction under Customs Act [Read Order]")
Habitual Default of Non-filing of Income Tax Returns despite having Taxable Income: ITAT Upholds Penalty [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the non-filing of income tax returns for a period of four years despite having taxable income would attract penalty under...
![Habitual Default of Non-filing of Income Tax Returns despite having Taxable Income: ITAT Upholds Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Habitual-Income-Tax-Returns-Taxable-Income-ITAT-Penalty-TAXSCAN.jpg "Habitual Default of Non-filing of Income Tax Returns despite having Taxable Income: ITAT Upholds Penalty [Read Order]")
![Commission Agent not obliged to get Account Audited, Penalty u/s 271 B not leviable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Commission-Agent-Account-Audited-Audit-Penalty-ITAT-Taxscan.jpg "Commission Agent not obliged to get Account Audited, Penalty u/s 271 B not leviable: ITAT [Read Order]")
![Madras HC quashes proceedings on Errors in order issued u/s 129(3) of Tamil Nadu-GST Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Madras-High-Court-GST-Act-GST-Taxscan.jpg "Madras HC quashes proceedings on Errors in order issued u/s 129(3) of Tamil Nadu-GST Act [Read Order]")
Income Tax penalty levied u/s 271(1)(C) not attract as TDS already deducted under DTAA: ITAT [Read Order]
Income Tax Appellate Tribunal ( ITAT ) of Chandigarh bench ruled that the penalty under section 271(1)(c) does not attract as the Tax Deduction Source (TDS) already deducted under Double Taxation...
![Income Tax penalty levied u/s 271(1)(C) not attract as TDS already deducted under DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-penalty-Income-Tax-penalty-Tax-TDS-DTAA-Taxscan.jpg "Income Tax penalty levied u/s 271(1)(C) not attract as TDS already deducted under DTAA: ITAT [Read Order]")
Penalty u/s 114AC not leviable in Absence of Collusion, Wilful Misstatement, Suppression of Facts or even any Duty Liability: CESTAT [Read Order]
The Kolkata Bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) has held that penalty under section 114AC of the Excise Act is not leviable in absence of collusion, wilful...
![Penalty u/s 114AC not leviable in Absence of Collusion, Wilful Misstatement, Suppression of Facts or even any Duty Liability: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Penalty-leviable-in-Absence-of-Collusion-Wilful-Misstatement-Suppression-of-Facts-or-even-any-Duty-Liability-CESTAT-TAXSCAN.jpg "Penalty u/s 114AC not leviable in Absence of Collusion, Wilful Misstatement, Suppression of Facts or even any Duty Liability: CESTAT [Read Order]")