![Additional Income Disclosed Originated Out of Seized Material: ITAT Upholds Penalty Levied u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Additional-Income-Additional-Income-Disclosed-Originated-Out-of-Seized-Material-Seized-Material-ITAT-Penalty-ITAT-Upholds-Penalty-Taxscan.jpg "Additional Income Disclosed Originated Out of Seized Material: ITAT Upholds Penalty Levied u/s 271(1)(c) [Read Order]")
Additional Income Disclosed Originated Out of Seized Material: ITAT Upholds Penalty Levied u/s 271(1)(c) [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, on finding the additional income disclosed and...
![No Penalty u/s 271(1)(c) can be Imposed, Without Assistance of Assessee in Prosecuting the Levy of Penalty Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/No-Penalty-Imposed-Assistance-of-Assessee-Assessee-Penalty-Proceedings-Proceedings-ITAT-Income-Tax-Taxscan.jpg "No Penalty u/s 271(1)(c) can be Imposed, Without Assistance of Assessee in Prosecuting the Levy of Penalty Proceedings: ITAT [Read Order]")
![Penalty imposed u/s 271(1)(c) shall not survive if the matter is restored to AO for passing Rectification Order: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Penalty-Penalty-imposed-AO-for-passing-Rectification-Order-passing-Rectification-Order-Rectification-Order-ITAT-Taxscan.jpg "Penalty imposed u/s 271(1)(c) shall not survive if the matter is restored to AO for passing Rectification Order: ITAT [Read Order]")
![No Penalty u/s 271(1)(c) of Income Tax Act on Payment Received on Sale of Penny Stock Shares: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/No-Penalty-Income-Tax-Act-Income-Tax-Act-on-Payment-Received-Sale-of-Penny-Stock-Shares-ITAT-taxscan.jpg "No Penalty u/s 271(1)(c) of Income Tax Act on Payment Received on Sale of Penny Stock Shares: ITAT [Read Order]")
![Basic Condition as Stipulated under Section 271(1)(c) not been Fulfilled: ITAT Deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Basic-Condition-as-Stipulated-under-Section-2711c-ITAT-Penalty-TAXSCAN.jpg "Basic Condition as Stipulated under Section 271(1)(c) not been Fulfilled: ITAT Deletes Penalty [Read Order]")
Entire Bogus Purchases cannot be Disallowed when Sales are Not Disputed: ITAT deletes Penalty based on Estimated Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, in an appeal filed before it, while deleting penalty based on estimated addition, held that entire bogus purchases cannot be...
![Entire Bogus Purchases cannot be Disallowed when Sales are Not Disputed: ITAT deletes Penalty based on Estimated Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Bogus-Purchases-ITAT-Penalty-taxscan.jpg "Entire Bogus Purchases cannot be Disallowed when Sales are Not Disputed: ITAT deletes Penalty based on Estimated Addition [Read Order]")
Omission of Income due to Human Error Committed by Accountant Not “Willful Attempt to Conceal Income”: ITAT deletes Penalty u/s 271(1)(c) [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently, while deleting the penalty u/s 271(1)(c) in an appeal filed before it, held that omission of income due to human error...
![Omission of Income due to Human Error Committed by Accountant Not “Willful Attempt to Conceal Income”: ITAT deletes Penalty u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Accountant-Omission-of-Income-Human-Error-Committed-by-Accountant-Conceal-Income-ITAT-Penalty-taxscan.jpg "Omission of Income due to Human Error Committed by Accountant Not “Willful Attempt to Conceal Income”: ITAT deletes Penalty u/s 271(1)(c) [Read Order]")
Mere Rejection of A Claim will not Invite Levy of Penalty u/s 271(1)(C) Of Income Tax Act: ITAT [Read Order]
The Ahmedabad Income Tax Appellate Tribunal (ITAT) has recently held that mere rejection of a claim would not invite levy of penalty under section 271(1)(C) of Income Tax Act, 1961. Section...
![Mere Rejection of A Claim will not Invite Levy of Penalty u/s 271(1)(C) Of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Levy-of-Penalty-Penalty-Income-Tax-Act-ITAT-taxscan.jpg "Mere Rejection of A Claim will not Invite Levy of Penalty u/s 271(1)(C) Of Income Tax Act: ITAT [Read Order]")
![No Penalty If Income Already Offered to Tax by Different Entity: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Penalty-Income-Tax-by-Different-Entity-ITAT-TAXSCAN.jpg "No Penalty If Income Already Offered to Tax by Different Entity: ITAT [Read Order]")
Builder Eligible for Income Tax Deduction u/s 37 in respect Compensation to Flat Buyers on Cancellation of Booking: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Pune Bench recently held that builders are eligible for income tax deduction under section 37 of income tax act 1961 in respect of compensation to flat buyers...
![Builder Eligible for Income Tax Deduction u/s 37 in respect Compensation to Flat Buyers on Cancellation of Booking: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Builder-Income-Tax-Deduction-Compensation-Flat-Buyers-Cancellation-of-Booking-Income-Tax-Flat-Buyers-on-Cancellation-of-Booking-ITAT-taxscan.jpg "Builder Eligible for Income Tax Deduction u/s 37 in respect Compensation to Flat Buyers on Cancellation of Booking: ITAT [Read Order]")
Penalty Notice u/s 271(1)(c) of Income Tax Act Issued in a Stereotyped Manner Without Applying Mind Not Valid: ITAT [Read Order]
Penalty imposed on the assessee was deleted by the Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) chaired by Anil Chaturvedi (Accountant member) and N.K. Chaudhry (Judicial Member). The...
![Penalty Notice u/s 271(1)(c) of Income Tax Act Issued in a Stereotyped Manner Without Applying Mind Not Valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Penalty-Notice-Penalty-Notice-Income-Tax-Act-Income-Tax-Tax-ITAT-taxscan.jpg "Penalty Notice u/s 271(1)(c) of Income Tax Act Issued in a Stereotyped Manner Without Applying Mind Not Valid: ITAT [Read Order]")
Levy of 100% of Tax sought to be Evaded u/s 271AAA of Income Tax Act is Not “Typographical Error”: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) recently held that levy of 100% of tax sought to be evaded under section 271AAA of Income Tax Act is not typographical error. Section 271AAA Income Tax Act...
![Levy of 100% of Tax sought to be Evaded u/s 271AAA of Income Tax Act is Not “Typographical Error”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Tax-Income-Tax-Act-Income-Tax-Typographical-Error-ITAT-taxscan-.jpg "Levy of 100% of Tax sought to be Evaded u/s 271AAA of Income Tax Act is Not “Typographical Error”: ITAT [Read Order]")