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Bonafide Human Errors should be demonstrated with Circumstantial Evidence: ITAT upholds Penalty [Read Order]

Bonafide Human Errors should be demonstrated with Circumstantial Evidence: ITAT upholds Penalty...

Taxscan Team
Penalty for ITC Claim: GST Dept’s Insensitive Move to Affect Kerala Traders after Flood [Read Letter]

Penalty for ITC Claim: GST Dept’s Insensitive Move to Affect Kerala Traders after Flood [Read...

Taxscan Team
CCI decides another Lesser Penalty case in respect of Cartelisation in Indian Zinc-Carbon Dry Cell Batteries Market [Read Order]

CCI decides another Lesser Penalty case in respect of Cartelisation in Indian Zinc-Carbon Dry Cell...

Taxscan Team
Payment of Tax before issue of SCN not a bar to Impose Penalty: Delhi HC [Read Judgment]

Payment of Tax before issue of SCN not a bar to Impose Penalty: Delhi HC [Read Judgment]

Taxscan Team

Penalty won’t attract for Genuine Cash Transactions: ITAT [Read Order]

The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty for cash transactions cannot be imposed on genuine transactions. In the instant case, the Assessing Officer...

Penalty won’t attract for Genuine Cash Transactions: ITAT [Read Order]
Taxscan Team

Upholding ‘Cartelization’ and resulting penalty of INR 6,700 cr to 11 cement companies: NCLAT dismisses Cement Companies' appeal [Read Order]

The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) in the case of Ambuja Cements Ltd & Ors. v. Competition Commission of India & Ors vide its judgment dated July 25,...

Upholding ‘Cartelization’ and resulting penalty of INR 6,700 cr to 11 cement companies: NCLAT dismisses Cement Companies appeal [Read Order]
Taxscan Team

Financial Crisis is a ‘Reasonable Cause’ for Delayed Deposit of TDS: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench in JCL Infra Ltd v. Addl ACIT, held that financial crisis can be a reasonable cause for not depositing the TDS amount with the Government account...

Financial Crisis is a ‘Reasonable Cause’ for Delayed Deposit of TDS: ITAT [Read Order]
Taxscan Team

No Penalty when Addition is made by Invoking Deeming Provisions: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that penalty under Section 271(1)(c) of the Income Tax Act, 1961 cannot be leviable when addition is made by invoking deeming...

No Penalty when Addition is made by Invoking Deeming Provisions: ITAT [Read Order]
Taxscan Team

Making a Wrong Claim would not attract Penalty: Delhi HC [Read Judgment]

The Delhi High Court recently held that the penalty under Section 271(1)(c) of the Income Tax Act cannot be automatically levied when the assessee makes a claim of write off which consequently reduces...

Making a Wrong Claim would not attract Penalty: Delhi HC [Read Judgment]
Taxscan Team

Penalty not leviable when Assessment itself is Quashed: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) in Sh. Ravinder Taneja v. ACIT, held that the Penalty imposed on the assessee becomes invalid since the assessment under Section 158BC of...

Penalty not leviable when Assessment itself is Quashed: ITAT [Read Order]
Taxscan Team

VAT Return can be revised to Correct Bonafide Errors even though Penalty proceeds were Initiated: Kerala HC [Read Judgment]

The Kerala High Court in the case of The Commercial Tax Officer-I v. C.R. Varghese held that VAT Return can be revised to correct bona fide errors even though Penalty proceeds were initiated. The...

VAT Return can be revised to Correct Bonafide Errors even though Penalty proceeds were Initiated: Kerala HC [Read Judgment]
Taxscan Team

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