![No Penalty If Assessee Discloses Correct Income during Scrutiny Proceedings: ITAT Hyderabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "No Penalty If Assessee Discloses Correct Income during Scrutiny Proceedings: ITAT Hyderabad [Read Order]")
No Penalty If Assessee Discloses Correct Income during Scrutiny Proceedings: ITAT Hyderabad [Read Order]
In Kalwa Bhaskar v. ACIT, the division bench of the Income Tax Appellate Tribunal (ITAT), Hyderabad held that penalty under Section 271(1)(c) of the...
![Quoting of Wrong Section would not make Penalty Order Invalid If Assessee had No Objection during the Course of Proceedings: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/Penalty-TaxScan.jpg "Quoting of Wrong Section would not make Penalty Order Invalid If Assessee had No Objection during the Course of Proceedings: ITAT Delhi [Read Order]")
![Penalty on CAs for Filing Wrong Information: Plea in Madras HC Challenging Vires of Sec 271J of Income Tax Act [Read Petition]](https://www.taxscan.in/wp-content/uploads/2017/02/CA-Taxscan.jpg "Penalty on CAs for Filing Wrong Information: Plea in Madras HC Challenging Vires of Sec 271J of Income Tax Act [Read Petition]")
Lack of Mensrea is not a bar to Impose Penalty on the Custodian of an Illicitely Exported Goods: Madras HC [Read Judgment]
The division bench of Madras High Court in M/s. Sanco Trans Ltd vs The Customs, Excise and Service Tax Appellate Tribunal, South Zonal Bench, held that, Any knowledge on the part of the custodian of...
Presence of mens rea is Necessary Constituent for Imposing Penalty under Sec 78 of the Finance Act, 1994: Chhattisarh HC
In a recent ruling, the Chhattisgarh High Court held that, presence of mens rea is necessary constituent for imposing penalty under section 78 of the Finance Act, 1994. The petitioner M/s. Mahadev...
Appellate Authority has No Power to ‘Enhance’ Penalty under the Punjab Excise Act: Punjab & Haryana HC [Read Judgment]
The division bench of the Punjab and Haryana High Court, in M/s Nirvair Singh v. Financial Commissioner Taxation, held that the appellate authority cannot “enhance” penalty under section 14 of the...
![SBI to Penalize Account Holders for Low Balance: Penalty includes Service Tax also [Read Circular]](https://www.taxscan.in/wp-content/uploads/2017/03/SBI-Taxscan.jpg "SBI to Penalize Account Holders for Low Balance: Penalty includes Service Tax also [Read Circular]")
No Penalty when the Assessee makes an Untenable Claim on the advice of Professional and later offers Income to Tax: Madras HC [Read Judgment]
In CIT v. Anita Kumaran, the division bench of the Madras High Court held that penalty under section 271(1)(c) of the Income Tax Act cannot be levied when the assessee, on the advice of the...
No Penalty When the Addition is made by invoking sec 50C and No Incriminating material is found: ITAT Mumbai [Read Order]
In a recent ruling, the Mumbai bench of the ITAT observed that penalty under section 271(1)(c) of the Income Tax Act cannot be levied on the assessee when the addition is made by invoking section 50C...
![No Penalty When the Addition is made by invoking sec 50C and No Incriminating material is found: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/No-Penalty-TaxScan.jpg "No Penalty When the Addition is made by invoking sec 50C and No Incriminating material is found: ITAT Mumbai [Read Order]")
Penalty under VAT can be levied only on the Completion of Assessment Proceedings: Madras HC [Read Order]
The division bench of the Madras High Court held that penalty under VAT can be levied only on the completion of Assessment proceedings. The sole grievance of the assessee was that the VAT authorities...