![Disallowance of Depreciation under MAT Provisions for Adjustments in Book of Profit does not Attract Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Disallowance-Depreciation-MAT-Provisions-Book-of-Profit-Penalty-ITAT-taxscan.jpg "Disallowance of Depreciation under MAT Provisions for Adjustments in Book of Profit does not Attract Penalty: ITAT [Read Order]")
Disallowance of Depreciation under MAT Provisions for Adjustments in Book of Profit does not Attract Penalty: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT), in a recent ruling has held in favour of the assessee that, no penalty can be imposed...
![CESTAT sets aside Penalty imposed on Duty Liability of Input Tax Credit availed in respect of Electricity Cogeneration plant [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/CESTAT-Penalty-Duty-Lability-Input-Tax-Credit-Electricity-Cogeneration-plant-taxscan.jpeg "CESTAT sets aside Penalty imposed on Duty Liability of Input Tax Credit availed in respect of Electricity Cogeneration plant [Read Order]")
![No TDS on Payment of EDC to HUDA: ITAT deletes Penalty u/s 271C [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/TDS-Payment-EDC-HUDA-ITAT-Penalty-taxscan.jpeg "No TDS on Payment of EDC to HUDA: ITAT deletes Penalty u/s 271C [Read Order]")
![CESTAT sets aside Penalty imposed for Improper Export of Buffalo Meat [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/CESTAT-Penalty-Export-Buffalo-Meat-taxscan.jpg "CESTAT sets aside Penalty imposed for Improper Export of Buffalo Meat [Read Order]")
![No Penalty u/s 271(1)(c) upon Assessee for Duplication of Assets happening due to Mistakes at the Chartered Accountant Office: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Penalty-Duplication-Assets-Chartered-Accountant-Office-ITAT-taxscan.jpg "No Penalty u/s 271(1)(c) upon Assessee for Duplication of Assets happening due to Mistakes at the Chartered Accountant Office: ITAT [Read Order]")
CIT shall Condone Delay for want of Material Records regarding Non Service of Notice and Penalty Order on Time: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), New Delhi, has recently, in an appeal filed before it, held that the CIT shall condone delay for want of material records regarding non service of notice...
![CIT shall Condone Delay for want of Material Records regarding Non Service of Notice and Penalty Order on Time: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/CIT-Material-Service-Notice-Penalty-ITAT-TAXSCAN.jpg "CIT shall Condone Delay for want of Material Records regarding Non Service of Notice and Penalty Order on Time: ITAT [Read Order]")
Imposing Penalty u/s 114A is not permissible in Absence of Collusion, Wilful Misstatement, Suppression of facts, or even any Duty Liability: CESTAT [Read Order]
The Hyderabad Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that imposing penalty under section 114A is not permissible in the absence of collusion, wilful...
![Imposing Penalty u/s 114A is not permissible in Absence of Collusion, Wilful Misstatement, Suppression of facts, or even any Duty Liability: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Imposing-Penalty-misstatement-duty-liability-CESTAT-TAXSCAN.jpg "Imposing Penalty u/s 114A is not permissible in Absence of Collusion, Wilful Misstatement, Suppression of facts, or even any Duty Liability: CESTAT [Read Order]")
Disclosure of Undisclosed by Other Persons during Search Not Binding on Assessee, Penalty u/s 271AAB Not Leviable: ITAT [Read Order]
In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the penalty under section 271AAB of the Income Tax Act, 1961 is not leviable on the basis of disclosure...
![Disclosure of Undisclosed by Other Persons during Search Not Binding on Assessee, Penalty u/s 271AAB Not Leviable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Assessee-Penalty-ITAT-TAXSCAN.jpg "Disclosure of Undisclosed by Other Persons during Search Not Binding on Assessee, Penalty u/s 271AAB Not Leviable: ITAT [Read Order]")
![No Interest & Penalty can be levied on Surcharge, CVD and SAD: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Interest-Penalty-Surcharge-CVD-SAD-Bombay-HC-taxscan.jpeg "No Interest & Penalty can be levied on Surcharge, CVD and SAD: Bombay HC [Read Order]")
![No Payment made above Purchase Price of Asset: ITAT deletes Penalty u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/payment-purchase-price-of-asset-ITAT-Penalty-taxscan.jpg "No Payment made above Purchase Price of Asset: ITAT deletes Penalty u/s 271(1)(c) [Read Order]")
![Delay in Transferring CSR Fund to PM Fund: MCA imposes Penalty on Comviva Technologies Ltd [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/CSR-Fund-PM-Fund-MCA-Penalty-Comviva-Technologies-Ltd-taxscan.jpeg "Delay in Transferring CSR Fund to PM Fund: MCA imposes Penalty on Comviva Technologies Ltd [Read Order]")
Penalty u/s 77 sustained when Assessee failed to Register and File ST-3 Returns within prescribed time: CESTAT [Read Order]
The Mumbai Regional Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that penalty under section 77 is sustained when the assessee failed to register and to file ST-3...
![Penalty u/s 77 sustained when Assessee failed to Register and File ST-3 Returns within prescribed time: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Penalty-assessee-CESTAT-taxscan.jpg "Penalty u/s 77 sustained when Assessee failed to Register and File ST-3 Returns within prescribed time: CESTAT [Read Order]")