![Determination of Income of assessee on certain Estimate not sufficient to constitute Concealed Income: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Determination-Income-assessee-Estimate-sufficient-constitute-Concealed-Income-ITAT-Penalty-TAXSCAN.jpg "Determination of Income of assessee on certain Estimate not sufficient to constitute Concealed Income: ITAT deletes Penalty [Read Order]")
Determination of Income of assessee on certain Estimate not sufficient to constitute Concealed Income: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that determination of income of assessee on certain estimate was not sufficient to...
![Person failing to furnish Return of Income is deemed to have concealed particulars of his income: ITAT upholds Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Person-failing-to-furnish-return-of-income-return-of-income-income-ITAT-ITAT-upholds-penalty-taxscan.jpg "Person failing to furnish Return of Income is deemed to have concealed particulars of his income: ITAT upholds Penalty [Read Order]")
![Penalty Notice Issued u/s 274 of Income Tax Act not Specifying Charge against Assessee is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Penalty-Notice-Income-Tax-Act-Specifying-Charge-Assessee-ITAT-taxscan.jpg "Penalty Notice Issued u/s 274 of Income Tax Act not Specifying Charge against Assessee is Invalid: ITAT [Read Order]")
![Interest income covered under Article 8(3) of India-France DTAA not taxable for out of funds fixed deposits connected with aircraft under Article 8(1): ITAT Grants Relief to Air France [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Interest-income-Interest-income-Air-France-DTAA-taxscan.jpg "Interest income covered under Article 8(3) of India-France DTAA not taxable for out of funds fixed deposits connected with aircraft under Article 8(1): ITAT Grants Relief to Air France [Read Order]")
![Difference in Perception of Viewing Transaction not Amount to Furnishing of Inaccurate Particulars: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Difference-Perception-Viewing-Transaction-Amount-Furnishing-Inaccurate-Particulars-ITAT-Penalty-taxscan.jpg "Difference in Perception of Viewing Transaction not Amount to Furnishing of Inaccurate Particulars: ITAT deletes Penalty [Read Order]")
Enhancement of Disallowance u/s 43B of Income Tax Act made Voluntarily: Delhi HC confirms Penalty Order of ITAT [Read Order]
The Delhi High Court confirmed penalty of the Income Tax Appellate Tribunal (ITAT), on the ground of enhancement of disallowance under Section 43B of Income Tax Act, 1961 made voluntarily. The...
![Enhancement of Disallowance u/s 43B of Income Tax Act made Voluntarily: Delhi HC confirms Penalty Order of ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Disallowance-Income-Tax-Act-Income-Tax-Income-Tax-Act-made-Voluntarily-Delhi-HC-confirms-Penalty-Order-of-ITAT-Delhi-High-Court-Penalty-Order-Penalty-Taxscan.jpg "Enhancement of Disallowance u/s 43B of Income Tax Act made Voluntarily: Delhi HC confirms Penalty Order of ITAT [Read Order]")
AO Fails to Clarify Concealment of Particulars of Income or Furnished Inaccurate Particulars: Delhi HC quashes 300% Penalty [Read Order]
The Delhi High Court quashed the 300% penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961 on grounds that the Assessing Officer (AO) failed to clarify the concealment of particulars...
![AO Fails to Clarify Concealment of Particulars of Income or Furnished Inaccurate Particulars: Delhi HC quashes 300% Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/AO-Fails-to-Clarify-Concealment-of-Particulars-of-Income-Delhi-Highcourt-quashes-300-Penalty-Penalty-Concealment-of-Particulars-of-Income-Delhi-Highcourt-taxscan.jpg "AO Fails to Clarify Concealment of Particulars of Income or Furnished Inaccurate Particulars: Delhi HC quashes 300% Penalty [Read Order]")
No Variation in Returned Income and Assessable Income: Penalty u/s 271(1)(c) of Income Tax Act Not Leviable, rules ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Pune Bench ruled that no penalty shall be levied when no variation is found in returned income and assessable income. Meera Anirudha Mirgunde, the taxpayer...
![No Variation in Returned Income and Assessable Income: Penalty u/s 271(1)(c) of Income Tax Act Not Leviable, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Variation-in-Returned-Income-and-Assessable-Income-Returned-Income-Assessable-Income-Income-Tax-ITAT-Taxscan.jpg "No Variation in Returned Income and Assessable Income: Penalty u/s 271(1)(c) of Income Tax Act Not Leviable, rules ITAT [Read Order]")
Penalty Can't be Sustained on Fact that Notice Issued doesn't Disclose Specific Charge: ITAT deletes Penalty Imposed u/s 271(1)(c) of Income Tax Act [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the penalty cannot be sustained on the fact that the notice issued doesn’t disclose a specific charge, the penalty imposed under...
![Penalty Cant be Sustained on Fact that Notice Issued doesnt Disclose Specific Charge: ITAT deletes Penalty Imposed u/s 271(1)(c) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Penalty-Fact-Notice-Issued-Disclose-Specific-Charge-ITAT-Penalty-Imposed-Income-Tax-Act-ITAT.jpg "Penalty Cant be Sustained on Fact that Notice Issued doesnt Disclose Specific Charge: ITAT deletes Penalty Imposed u/s 271(1)(c) of Income Tax Act [Read Order]")
ITAT Upholds Levy of Penalty u/s 271(1)(c) of Income Tax Act on ground of Furnishing Inaccurate Particulars of Income [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) upheld the imposition of penalty under section 271(1)(c ) of the Income Tax Act,1961 on the ground of furnishing the inaccurate...
![ITAT Upholds Levy of Penalty u/s 271(1)(c) of Income Tax Act on ground of Furnishing Inaccurate Particulars of Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/penalty-levy-section-2711c-of-Income-Tax-Act-upheld-itat-taxscan.jpg "ITAT Upholds Levy of Penalty u/s 271(1)(c) of Income Tax Act on ground of Furnishing Inaccurate Particulars of Income [Read Order]")
Addition made on Account of Estimated Rate of Profit applied to Turnover does not Amount to Concealment: ITAT deletes Penalty [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has held that addition made on account of estimated rate of profit applied to turnover did not amount to concealment. Therefore, the bench...
![Addition made on Account of Estimated Rate of Profit applied to Turnover does not Amount to Concealment: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Account-of-Estimated-Rate-of-Profit-Account-Estimated-Rate-Profit-Rate-of-Profit-Turnover-Amount-to-Concealment-Concealment-ITAT-deletes-Penalty-ITAT-Penalty-Taxscan.jpg "Addition made on Account of Estimated Rate of Profit applied to Turnover does not Amount to Concealment: ITAT deletes Penalty [Read Order]")
Penalty u/s. 271(1)(c) Cannot be Levied Merely because Claim was not Accepted or not Found to be Acceptable: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the penalty under Section 271(1)(c) of the Income Tax Act 1961 could not be levied merely because the claim was not accepted or...
![Penalty u/s. 271(1)(c) Cannot be Levied Merely because Claim was not Accepted or not Found to be Acceptable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-ITAT-taxscan.jpg "Penalty u/s. 271(1)(c) Cannot be Levied Merely because Claim was not Accepted or not Found to be Acceptable: ITAT [Read Order]")