![Penalty cant be levied on Puri Construction for denying benefit of ITC to Flat Buyers: NAA [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/NAA-Puri-Construction-penalty-taxscan.jpg "Penalty cant be levied on Puri Construction for denying benefit of ITC to Flat Buyers: NAA [Read Order]")
Penalty can't be levied on Puri Construction for denying benefit of ITC to Flat Buyers: NAA [Read Order]
The National Anti-Profiteering Authority (NAA) found M/s Puri Construction Private Limited guilty of profiteering but did not impose the penalty for...
![No Penalty If Assessee has reasonable cause for non-filing of Income Tax Return: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/Income-Tax-Return-ITAT-Penalty-Income-Tax-Taxscan.jpg "No Penalty If Assessee has reasonable cause for non-filing of Income Tax Return: ITAT [Read Order]")
![Relief to Flemingo Travel Retail Limited: ITAT quashes Penalty of Rs.2.26 Cr [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/Flemingo-Travel-ITAT-Penalty-Taxscan.jpg "Relief to Flemingo Travel Retail Limited: ITAT quashes Penalty of Rs.2.26 Cr [Read Order]")
No Penalty for ‘Escapement of Income’ if Assessee disclosed All Material Facts Fully and Truly: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty cannot be imposed if the assessee has disclosed full and true material facts for assessment. The income tax...
![No Penalty for ‘Escapement of Income’ if Assessee disclosed All Material Facts Fully and Truly: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/penalty-ITAT-Escapement-Income-Assessee-Taxscan.jpg "No Penalty for ‘Escapement of Income’ if Assessee disclosed All Material Facts Fully and Truly: ITAT [Read Order]")
![ITAT deletes Penalty since Assessee Voluntarily surrendered Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/ITAT-Penalty-Assessee-Voluntarily-surrendered-Income-Taxscan.jpg "ITAT deletes Penalty since Assessee Voluntarily surrendered Income [Read Order]")
Gaurav Sharma Food Industry denied Benefit of Tax Reduction to Consumers: NAA imposes Penalty [Read Order]
The National Anti-Profiteering Authority (NAA) found M/s Gaurav Sharma Food Industry denied the benefit of tax reduction to consumers and imposed penalty and directed the respondent to deposit the...
![Gaurav Sharma Food Industry denied Benefit of Tax Reduction to Consumers: NAA imposes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/Gaurav-Sharma-Food-Industry-NAA-Tax-Reduction-Penalty-Taxscan.jpg "Gaurav Sharma Food Industry denied Benefit of Tax Reduction to Consumers: NAA imposes Penalty [Read Order]")
12% GST applicable on Interest / Penalty collected for Delay in Payment of Monthly Subscription by Members of Chit Fund Company: AAR [Read Order]
The Andhra Pradesh Authority of Advance Ruling (AAR) ruled that 12% of GST is applicable on interest/penalty collected for the delay in payment of monthly subscription by the members of the chit fund...
![12% GST applicable on Interest / Penalty collected for Delay in Payment of Monthly Subscription by Members of Chit Fund Company: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/Delayed-GST-Payment-Taxscan.jpg "12% GST applicable on Interest / Penalty collected for Delay in Payment of Monthly Subscription by Members of Chit Fund Company: AAR [Read Order]")
Delhi HC stays IBBI order Imposing Penalty on Mack Soft Tech Resolution Professional, subjected to deposit of Rs. 25L [Read Order]
The High Court of Delhi stayed the Insolvency and Bankruptcy Board of India (IBBI) order imposing the penalty on the Mack Soft Tech Resolution Professional. Stay is subject to Mohan Lal Jain making a...
![Delhi HC stays IBBI order Imposing Penalty on Mack Soft Tech Resolution Professional, subjected to deposit of Rs. 25L [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/IBBI-Mack-Soft-Tech-Penalty.jpg "Delhi HC stays IBBI order Imposing Penalty on Mack Soft Tech Resolution Professional, subjected to deposit of Rs. 25L [Read Order]")
Tobacco Products likely to get Damaged, so must me Release after Payment of Tax and Penalty: Gujarat HC [Read Order]
The High Court of Gujarat denied interfering with the impugned show cause notice issued by the authority under Section 130 of the CGST Act, however, it noted that Tobacco products are likely to get...
![Tobacco Products likely to get Damaged, so must me Release after Payment of Tax and Penalty: Gujarat HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/06/Tobacco-products-Taxscan.jpeg "Tobacco Products likely to get Damaged, so must me Release after Payment of Tax and Penalty: Gujarat HC [Read Order]")
Making a Wrong Claim not amount to 'concealment of inaccurate information', No Penalty: Bombay HCÂ [Read Order]
The Bombay High Court held that making a wrong claim is not at par with concealment or giving inaccurate information which may call for levy of penalty under Section 271(1)(c) of the Income Tax Act,...
![Making a Wrong Claim not amount to concealment of inaccurate information, No Penalty: Bombay HCÂ [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/06/Wrong-claim-Bombay-High-court.jpg "Making a Wrong Claim not amount to concealment of inaccurate information, No Penalty: Bombay HCÂ [Read Order]")