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Penalty can’t be levied for Lack of Evidence supporting HRA Claim If Assessee admitted Fault: ITAT [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has deleted a penalty order under section 271(1)(c) of the Income Tax Act by holding...

Non-Production of Audit Report in Prescribed Format would attract Penalty: ITAT [Read Order]

ITAT upholds Penalty leviable on Surrender made on Account of Discrepancy in Stock [Read Order]

Wrong Claim for TDS would not attract Penalty: ITAT [Read Order]

Defect in Notice would invalidate Penalty Proceedings: ITAT [Read Order]

Penalty can’t be levied for Rejection of Bonafide Claim: Bombay High Court [Read Order]

The division bench of the Bombay High Court has held that penalty cannot be levied under the Income Tax merely on the ground that a deduction claim was rejected by the department. The assessee is a...

Penalty can’t be levied on Retrospective Amendment: ITAT [Read Order]

The Ahmedabad bench of the ITAT has held that the assessee cannot be penalized on ground of a retrospective amendment under the Income Tax Act, 1961. The assessee, Baroda Cricket Association, is an...

Cash Loan from Parents and Brother for purchasing House for whole Family do not attract Penalty: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the cash loan received from the parents and brother of the assessee for the purchase of the house for the whole family cannot...

Penalty Proceedings can’t be initiated without a specific Charge: ITAT [Read Order]

The Indore bench of the Income Tax Appellate Tribunal (ITAT) on Thursday ruled that no penalty proceedings can be initiated on a suspected defaulter assessee without specifying the charges levied...

Penalty can’t be levied on the basis of Vague Charges: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty under section 271(1)(c) of the Income Tax Act cannot be levied on vague charges. The assessee, a salaried...

When Quantum Addition deleted, Consequent Penalty can’t Survive: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that when the quantum addition is deleted by the appellate authorities, the penalty levied under Section 271(1)(c) of the Income...

Mere Change in ‘Heads of Income’ won’t attract Penalty: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that a mere change in the heads of income would not attract penalty under the Income Tax Act, 1961. The assessee claimed that...

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