![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]")
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...
![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]](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]](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]](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]")
Penalty Imposed u/s271(1)(c) of Income Tax Act without Application of Mind: ITAT Set asides Order [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) quashed the penalty imposed under section 271(1)(c) of the Income Tax Act,1961 by the assessing officer without the application of...
![Penalty Imposed u/s271(1)(c) of Income Tax Act without Application of Mind: ITAT Set asides Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Income-Tax-Section-2711c-of-Income-Tax-Act-Application-of-mind-Deduction-claim-set-aside-order-ITAT-income-tax-act-income-tax-without-application-of-mind-taxscan.jpg "Penalty Imposed u/s271(1)(c) of Income Tax Act without Application of Mind: ITAT Set asides Order [Read Order]")
Mere Acceptance of Disallowance cannot Conclude Furnishing of Inaccurate Particulars of Income: ITAT Deletes Penalty u/s. 271(1)(c) of Income Tax Act [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the penalty under Section 271(1)(c) of the Income Tax Act 1961 holding that mere acceptance of disallowance could not conclude...
![Mere Acceptance of Disallowance cannot Conclude Furnishing of Inaccurate Particulars of Income: ITAT Deletes Penalty u/s. 271(1)(c) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Mere-Acceptance-of-Disallowance-Furnishing-of-Inaccurate-Particulars-of-Income-ITAT-Deletes-Penalty-of-Income-Tax-Act-TAXSCAN.jpg "Mere Acceptance of Disallowance cannot Conclude Furnishing of Inaccurate Particulars of Income: ITAT Deletes Penalty u/s. 271(1)(c) of Income Tax Act [Read Order]")
Penalty imposed u/s 271(1)(c) of IT Act without proving either Concealment of Income or Filing of Inaccurate Particulars of Income: ITAT quashes Order [Read Order]
The Dehradun bench of the Income Tax Appellate Tribunal ( ITAT) held that the penalty imposed under section 271(1)(c ) of the Income Tax Act,1961 without proving either concealment of income or...
![Penalty imposed u/s 271(1)(c) of IT Act without proving either Concealment of Income or Filing of Inaccurate Particulars of Income: ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-IT-Act-Concealment-of-Income-or-Filing-of-Inaccurate-Particulars-of-Income-Concealment-of-Income-Income-Filing-of-Inaccurate-Particulars-of-Income-Particulars-of-Income-ITAT-Taxscan.jpg "Penalty imposed u/s 271(1)(c) of IT Act without proving either Concealment of Income or Filing of Inaccurate Particulars of Income: ITAT quashes Order [Read Order]")
Penalty u/s 271(1)(c) Cannot be Imposed when Income Determined on Estimate Basis: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the penalty under Section 271(1)(c) of the Income Tax Act could not be imposed when income has been determined on an estimated...
![Penalty u/s 271(1)(c) Cannot be Imposed when Income Determined on Estimate Basis: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-Income-Determined-Income-Determined-on-Estimate-Basis-Estimate-Basis-ITAT-Income-Tax-taxscan.jpg "Penalty u/s 271(1)(c) Cannot be Imposed when Income Determined on Estimate Basis: ITAT [Read Order]")
Penalty Imposed u/s 271(1)(c) of IT Act for Commission Payment without Proper Hearing: ITAT directs Re-adjudication [Read Order]
The Jaipur bench of Income Tax Appellate Tribunal (ITAT) directed the matter back to the assessing officer for re-adjudication for penalty imposed under Section 271(1)(c) of the Income Tax Act...
![Penalty Imposed u/s 271(1)(c) of IT Act for Commission Payment without Proper Hearing: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-imposed-IT-Act-Penalty-commission-payment-without-proper-hearing-commission-payment-ITAT-directs-re-adjudication-taxscan.jpg "Penalty Imposed u/s 271(1)(c) of IT Act for Commission Payment without Proper Hearing: ITAT directs Re-adjudication [Read Order]")
Penalty u/s 271(1)(c) not Leviable When no Inaccurate Particulars of Income are Furnished by the Assessee: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently, in an appeal filed before it, held that penalty under Section 271(1)(c) of the Income Tax Act is not leviable when no...
![Penalty u/s 271(1)(c) not Leviable When no Inaccurate Particulars of Income are Furnished by the Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Penalty-Inaccurate-Particulars-of-Income-Inaccurate-Particulars-of-Income-are-Furnished-by-the-Assessee-Income-ITAT-taxscan.jpg "Penalty u/s 271(1)(c) not Leviable When no Inaccurate Particulars of Income are Furnished by the Assessee: ITAT [Read Order]")
Section 50C of Income Tax Act Cannot be Applied on Compulsory Acquisition of a Capital Asset: Calcutta HC [Read Order]
The Calcutta High Court has held that Section 50C of the Income Tax Act, 1961 cannot be applied to the compulsory acquisition of a capital asset. M/s. The Durgapur Projects Limited, the...
![Section 50C of Income Tax Act Cannot be Applied on Compulsory Acquisition of a Capital Asset: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Tax-Act-Compulsory-Acquisition-Capital-Asset-Calcutta-High-Court-Compulsory-Acquisition-of-a-Capital-Asset-taxscan.jpg "Section 50C of Income Tax Act Cannot be Applied on Compulsory Acquisition of a Capital Asset: Calcutta HC [Read Order]")