![Bonafide Action of Non-Sharing of AIR by Co-Operative Bank u/s 271FA will not attract Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Bonafide-Action-Co-Operative-Bank-Penalty-ITAT-taxscan.jpeg "Bonafide Action of Non-Sharing of AIR by Co-Operative Bank u/s 271FA will not attract Penalty: ITAT [Read Order]")
Bonafide Action of Non-Sharing of AIR by Co-Operative Bank u/s 271FA will not attract Penalty: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has held that a bonafide action on the part of the co-operative bank not filing...
![Deliberate Mis-Declaration and Overvaluation of Imports: CESTAT upholds Rejection of Duty Drawback and imposition of Penalties [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Imports-CESTAT-Duty-Drawback-taxscan.jpg "Deliberate Mis-Declaration and Overvaluation of Imports: CESTAT upholds Rejection of Duty Drawback and imposition of Penalties [Read Order]")
![No Penalty u/s 271C when delay in Filing Appeal occurred due to Ambiguity on direction contained in Statutory Document: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Penalty-appeal-statutory-document-ITAT-taxscan.jpeg "No Penalty u/s 271C when delay in Filing Appeal occurred due to Ambiguity on direction contained in Statutory Document: ITAT [Read Order]")
![No Search Conducted on Assessee: ITAT upholds Deletion of Penalty u/s 271AAB on Undisclosed Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Assessee-ITAT-Penalty-Undisclosed-Income-taxscan.jpeg "No Search Conducted on Assessee: ITAT upholds Deletion of Penalty u/s 271AAB on Undisclosed Income [Read Order]")
Non-Compliance due to delay in getting Notice from Authority, Penalty U/s 271(1)(b) not sustainable: ITAT [Read Order]
Non- compliance due to delay in getting notice from the authority, the Allahabad Bench of the Income Tax Appellate Tribunal (ITAT)has held that penalty under section 271(1)(b) is not sustainable. ...
![Non-Compliance due to delay in getting Notice from Authority, Penalty U/s 271(1)(b) not sustainable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/notice-from-Authority-Penalty-ITAT-taxscan.jpeg "Non-Compliance due to delay in getting Notice from Authority, Penalty U/s 271(1)(b) not sustainable: ITAT [Read Order]")
Notice u/s 274 fails to specify the Reason for Imposition of Penalty: ITAT deletes Penalty u/s 271(c)(1) [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that notice under section 274 fails to specify the reason for the imposition of penalty and deletes the penalty imposed under section...
![Notice u/s 274 fails to specify the Reason for Imposition of Penalty: ITAT deletes Penalty u/s 271(c)(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Notice-ITAT-Penalty-taxscan.jpg "Notice u/s 274 fails to specify the Reason for Imposition of Penalty: ITAT deletes Penalty u/s 271(c)(1) [Read Order]")
Penalty levied by SEBI for shortfall in margin money eligible for Deduction u/s 37: ITAT [Read Order]
Income Tax Appellate Tribunal (ITAT), Mumbai held that penalty levied by SEBI for shortfall in margin money eligible for Deduction u/s 37. The assessee company, DJS Stock and Shares Ltd is engaged...
![Penalty levied by SEBI for shortfall in margin money eligible for Deduction u/s 37: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Penalty-SEBI-Deduction-ITAT-taxscan.jpg "Penalty levied by SEBI for shortfall in margin money eligible for Deduction u/s 37: ITAT [Read Order]")
Assessee has Right to Appeal even after Voluntary Payment of Penalty under CGST: Kerala HC [Read Order]
In a significant ruling, the Kerala High Court has held that the assessee has the right to appeal even after the voluntary payment of the penalty made under the Central Goods and Service Tax (CGST)...
![Assessee has Right to Appeal even after Voluntary Payment of Penalty under CGST: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Assessee-appeal-Voluntary-Payment-Penalty-CGST-Kerala-HC-taxscan.jpeg "Assessee has Right to Appeal even after Voluntary Payment of Penalty under CGST: Kerala HC [Read Order]")
Loan to Director due to Urgent need of Finance in Company, reflected in Books will not attract S. 269SS: ITAT deletes Penalty
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the loan to the Director due to urgent need of finance in the Company which is duly reflected in the journal entries will not...
Demand of Service Tax on basis of TDS /26AS Statements/ 3CD Statements not sustainable: CESTAT [Read Order]
Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Ahmedabad bench consisting of Ramesh Nair, Judicial Member and Raju, Technical Member held penalty imposed not sustainable on the ground...
![Demand of Service Tax on basis of TDS /26AS Statements/ 3CD Statements not sustainable: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/service-tax-TDS-CESTAT-penalty-taxscan.jpeg "Demand of Service Tax on basis of TDS /26AS Statements/ 3CD Statements not sustainable: CESTAT [Read Order]")
Penalty u/s 271(1)(c) not imposable for Undisclosed Income detected on Search initiated before Assessment Year: ITAT [Read Order]
The Delhi bench Income Tax Appellate Tribunal (ITAT) comprising Shri Challa Nagendra Prasad, judicial member & Shri Pradip Kumar Kedia, accountant member The assessee, M/s. BLK...
![Penalty u/s 271(1)(c) not imposable for Undisclosed Income detected on Search initiated before Assessment Year: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Penalty-undisclosed-income-search-assessment-year-ITAT-taxscan.jpeg "Penalty u/s 271(1)(c) not imposable for Undisclosed Income detected on Search initiated before Assessment Year: ITAT [Read Order]")