![No Penalty If there is a Bonafide belief that Books need not be Subjected to Audit: ITAT Hyderabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "No Penalty If there is a Bonafide belief that Books need not be Subjected to Audit: ITAT Hyderabad [Read Order]")
No Penalty If there is a Bonafide belief that Books need not be Subjected to Audit: ITAT Hyderabad [Read Order]
Hyderabad bench of Income Tax Appellate Tribunal held that penalty under section 271B of the Income Tax Act is not leviable where the assessee was...
Disallowance of Additional Depreciation Claim would not Attract Penalty Provisions, says ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that disallowance of additional depreciation claim would not attract any penalty. The Tribunal bench comprising of D.T.Garasia...
![Disallowance of Additional Depreciation Claim would not Attract Penalty Provisions, says ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/08/Depreciation-Taxscan.jpg "Disallowance of Additional Depreciation Claim would not Attract Penalty Provisions, says ITAT [Read Order]")
Failure of Authorized Representative to Attend Assessment proceedings without informing Assessee is a ‘reasonable cause’: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal, New Delhi bench guided the AO to delete the penalty imposed under section 271(1) (b) of the Income Tax Act, 1961 since failure of the assessee’s counsel to attend...
![Failure of Authorized Representative to Attend Assessment proceedings without informing Assessee is a ‘reasonable cause’: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "Failure of Authorized Representative to Attend Assessment proceedings without informing Assessee is a ‘reasonable cause’: ITAT deletes Penalty [Read Order]")
Penalty paid on Sales Tax demand is not Compensatory in Nature: ITAT disallows Expenditure [Read Order]
A division bench of the Delhi ITAT held that penalty paid in connection with sales tax demand is not compensatory in nature, and therefore, not allowable as business expenditure under section 37 of...
![Penalty paid on Sales Tax demand is not Compensatory in Nature: ITAT disallows Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Expenditures-TAXSCAN.jpg "Penalty paid on Sales Tax demand is not Compensatory in Nature: ITAT disallows Expenditure [Read Order]")
Penalty u/s 271(1)(c) is not Leviable when a Bonafide Claim of the Assessee gets Rejected: ITAT [Read Order]
The Mumbai bench of the ITAT, in M/s. Buildbyte.com v. ACIT, held that penalty under section 271(1)(c) of the Income Tax Act cannot be levied in a case where the assessee made a bonafide claim and the...