Read all Latest Updates on and about section 271 (1) (c) of the Income Tax Act

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ITAT Directs AO to Revisit Penalty Proceedings After Completion of de novo assessment [Read Order]

Franklin Joshva

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has set aside the penalty of Rs. 10.22 lakh imposed under Section 271(1)(c) of the...

ITAT quashes AO’s Rs. 57.03 Lakh Cash Deposit Addition & Penalty, Grants Fresh Hearing [Read Order]

Penalty Not Maintainable When Assessment Order No Longer Exists: ITAT [Read Order]

ITAT Grants relief in Tax Appeals, Condones Procedural Lapses and Professional Negligence: Remands...

Annual Digest 2024 - Supreme Court Cases on Taxation - High Court - Cases on Taxation - High Court Cases on Taxation - taxscan

Annual Digest 2024: Supreme Court and High Court Cases on Taxation [Part 34]

ITAT Reinstates Taxpayer's Appeal, Citing lack of proper Notice and Opportunity to be Heard [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the matter to the Commissioner of Income Tax (Appeals) for fresh adjudication due to the CIT(A)'s failure to provide a proper...

Denial of Fair Hearing Opportunity to Assessee: ITAT deletes Income Tax Addition u/s 69C [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) ruled in favor of the assessee, deleting an addition of Rs. 27,61,030 made for capital gains incurred in the script of Looks Health...

Income Tax Authorities Penalize Torrent Pharmaceuticals with ₹2.3 Crore

On November 28, Torrent Pharmaceuticals Limited, one of India’s prominent pharmaceutical companies announced that the Income Tax Department had imposed a penalty of Rs. 2.31 crore. The fine was...

Hearing Opportunity not Provided by CIT(A) while Not Condoning Delay: ITAT restores Appeal for Fresh Adjudication [Read Order]

In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) restored the file in which penalty was imposed on the assessee for fresh adjudication due to procedural lapses...

Depreciation claim on Non Compete Fee Allowable Under Income Tax Act: ITAT Deletes Penalty Imposed [Read Order]

In the recent ruling, the Delhi bench Of Income Tax Appellate Tribunal (ITAT) quashed the penalty for disallowing Rs. 21,89,970 in non-compete fee depreciation due to conflicting High Court rulings...

Legality of revision of Order of ITAT u/s 254 on Ground of Retrospective Overruling: Supreme Court directs to approach prescribed authority under ITAT Order [Read Judgement]

The Supreme Court directed the petitioner to approach the prescribed authority mentioned in the Income Tax Appellate Tribunals Order (ITAT). The Special Leave Petition arose out of the final judgment...

Belief formed by AO vague, far-fetched & irrelevant: Jharkhand HC quashes Income Tax Penalty & Demand [Read Order]

The Jharkhand High Court held that belief formed by Assessment Order is vague, far fetched and irrelevant, while quashing the income tax penalty and demand raised towards the assessee-company. The...