Time Limit for Initiation of Penalty starts from the date on which the AO writes letter to the ACIT recommending the issuance of SCN: Delhi HC
The division bench of the Delhi High Court in Principal CIT v. Mahesh Wood Products Pvt Ltd, held that the time limitation for "initiation" of penalty...
![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]")
SBI to Penalize Account Holders for Low Balance: Penalty includes Service Tax also [Read Circular]
The State Bank of India, after 5 years, is re-introducing penalties for low balance and hiking its transaction fee from April 1, 2017. The circular uploaded in the Bank’s website provided that if an...
![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 Assessee makes an Untenable Claim on the advice of Professional and later offers Income to Tax: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "No Penalty when the Assessee makes an Untenable Claim on the advice of Professional and later offers Income to Tax: Madras HC [Read Judgment]")
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...
Penalty cannot be levied when there is a bonafide confusion over the Constitutionality of Levy of Tax: Mumbai CESTAT [Read Order]
In Serum Institute of India Ltd v. Commissioner of Central Excise Pune III, the division bench of the Mumbai CESTAT held that if the constitutional validity of the levy of Service Tax is under...
Penalty is not Leviable solely on Ground of ‘Change in Heads of Income’: ITAT Mumbai [Read Order]
In Ms. Pushpavati Khushalchand Mehta v. ITO, the division bench of the Mumbai ITAT held that penalty under section 271(1)(c)of the Income Tax Act cannot be levied on the assessee on mere ground that...