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

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No Penalty can be Imposed u/s 271(1)(c) When Income Addition is based on Estimation: ITAT [Read Order]

Sneha Sukumaran Mullakkal

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) uled that no penalty can be imposed under Section 271(1)(c) of Income Tax Act,1961 when...

Penalty u/s 271(1)(c) Unjustified on Ad-Hoc Estimated Income: ITAT [Read Order]

Notice u/s 271(1)(c) of Income Tax Act Must Specify Reason for Penalty Imposition: J&K HC [Read...

ITAT Quashes ₹4.27 cr Addition in Alleged Bogus LTCG from Penny Stock Transactions Citing Lack of...

Mere Claim does not constitute Furnishing of Inaccurate Particulars for being Unsustainable: ITAT...

Undeclared Foreign Income from House Property and Other Sources Declared in Rectified ITR: ITAT deletes Penalty u/s 271 [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty of Rs.9,24,760 levied under section 271(1)(c) of the Income Act, 1961 for furnishing inaccurate particulars leading...

Mere Variance in Allowable Deductions not Ground to Believe Assessee Furnished Inaccurate Particulars of Income: Delhi HC [Read Order]

In a recent decision, the Delhi High Court observed that mere variance in allowable deductions not ground to believe assessee furnished inaccurate particulars of income. Assessee-respondent, a...

Failure to clarify as to which limb of Section 271(1)(c) of Income Tax Act attracted in imposition of Penalty: Delhi HC upholds deletion of Penalty [Read Order]

The Delhi High Court has upheld the deletion of penalty on the failure to clarify as to which limb of Section 271(1)(c) of the Income Tax Act attracted the imposition of penalty. The...

Son who did not Succeed Estate of Deceased Assessee cannot be "Legal Representative" during Income Tax Proceedings: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that appellant failing to satisfy the criteria under section 2(11) of the CPC leads to dismissal of his petition seeking his...

Penalty Notice not specifying Charge is Defective: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty notice issued by the department without mentioning a specific charge must be treated as ‘defective’ for the...

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...