Power to Impose Penalty u/s 47(6) of KVAT Act is not Absolute; Quantum of Penalty must be ascertained to the Gravity of Offence: Kerala HC [Read Judgment]
In a recent decision, the division bench of the Kerala High Court held that he power vested on the officer to impose penalty u/s 47(6) of the KVAT Act...
![Penalty cannot be levied on a Govt Authority who defaults Service Tax payment without Intention: CESTAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/No-Penalty-TaxScan.jpg "Penalty cannot be levied on a Govt Authority who defaults Service Tax payment without Intention: CESTAT Delhi [Read Order]")
![Interest not allowable on Delayed Refund of Penalty deposited: CESTAT Ahmedabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/11/Interest.jpg "Interest not allowable on Delayed Refund of Penalty deposited: CESTAT Ahmedabad [Read Order]")
No Penalty If the Assessee immediately pays evaded Tax on Revenue’s Demand: CESTAT Delhi [Read Order]
In a recent ruling, the Delhi bench of the Customs, Excise and Service Tax Appellate Tribunal held that penalty under section 73(3) of the Finance Act, 1994 cannot be imposed on the assessee even...
No Penalty if the Assessee Admits his Undisclosed Income during the Course of Search Proceedings: ITAT Ahmedabad [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal, recently upheld the order of the Commissioner of Income Tax (Appeals) who, vide its order, set aside the penalty order against the assessee by...
Dispute with the Statutory Auditor is a Reasonable Cause for Delay, Penalty cannot be levied: ITAT Jaipur [Read Order]
Delay caused without Malafide intention do not attract Penalty under the Income Tax Act, says ITAT Jaipur. The Jaipur bench, Income Tax Appellate Tribunal, in a recent ruling held that dispute...
![Dispute with the Statutory Auditor is a Reasonable Cause for Delay, Penalty cannot be levied: ITAT Jaipur [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/Statutory-Auditor-Taxscan.jpg "Dispute with the Statutory Auditor is a Reasonable Cause for Delay, Penalty cannot be levied: ITAT Jaipur [Read Order]")
No Penalty if the Assessee admits Undisclosed Income during the course of proceedings: ITAT Mumbai [Read Order]
In a significant ruling,  Mumbai bench of the Income Tax Appellate Tribunal, in a recent ruling, held that the benefit if section 271(1)(c) shall be given if the assessee is ready to admit his/her...
![No Penalty if the Assessee admits Undisclosed Income during the course of proceedings: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "No Penalty if the Assessee admits Undisclosed Income during the course of proceedings: ITAT Mumbai [Read Order]")
Penalty cannot be levied on Non-disallowance of Expenditure by the assesee on bonafide belief: ITAT Mumbai [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal, Mumbai, if the assessee does not make disallowance u/s 43-Bin bonafide belief, then the Revenue cannot impose penalty under section 271(1)(c) of...
![Penalty cannot be levied on Non-disallowance of Expenditure by the assesee on bonafide belief: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Penalty-Tax-Scan.jpg "Penalty cannot be levied on Non-disallowance of Expenditure by the assesee on bonafide belief: ITAT Mumbai [Read Order]")
Mere Rejection of a Claim by the Assessing Officer would not attract Penalty under the Income Tax Act: ITAT Delhi [Read Order]
In a recent ruling, the Delhi bench of the Income Tax Appellate Tribunal held that penalty proceedings under section 271(1)(c) of the Incme Tax Act, 1961 cannot be initiated against the assessee on...
![Mere Rejection of a Claim by the Assessing Officer would not attract Penalty under the Income Tax Act: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/Assessing-officer-Tax-Scan.jpg "Mere Rejection of a Claim by the Assessing Officer would not attract Penalty under the Income Tax Act: ITAT Delhi [Read Order]")
Failure of the Assessee to Prove the Legality of his Undisclosed Income will not attract Penalty u/s 271(1)(c); ITAT Hyderabad [Read Order]
The Hyderabad bench of Income Tax Appellate Tribunal recently held that the failure on the part of the assessee to substantiate the legality of his undisclosed income will only attract assessment...