![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]")
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...
![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]](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]](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]")
Showing less LTCG by making false claim u/s 54EC without making investment: ITAT confirms penalty [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) confirmed penalty as there was showing less Long Term Capital Gain (LTCG) by making false claim under Section 54EC without making...
![Showing less LTCG by making false claim u/s 54EC without making investment: ITAT confirms penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Showing-Less-LTCG-by-making-False-Claim-without-making-investment-ITAT-deletes-Penalty-TAXSCAN.jpg "Showing less LTCG by making false claim u/s 54EC without making investment: ITAT confirms penalty [Read Order]")
![Payment of TDS with Interest to ensure No Loss to Revenue: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Payment-TDS-Interest-Revenue-Penalty-ITAT-Payment-of-TDS-taxscan.jpg "Payment of TDS with Interest to ensure No Loss to Revenue: ITAT deletes Penalty [Read Order]")
Penalty u/s 271(c) of Income Tax Act not imposable in the absence of deliberate Concealment and Inaccurate particulars: Madhya Pradesh HC [Read Order]
The Madhya Pradesh High Court has held that penalty u/s 271(c) of the Income Tax Act, 1961 is not imposable in the absence of deliberate concealment and inaccurate particulars. M/s S Kumar Tyres...
![Penalty u/s 271(c) of Income Tax Act not imposable in the absence of deliberate Concealment and Inaccurate particulars: Madhya Pradesh HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Penalty-Income-Tax-Act-Madhya-Pradesh-HC-taxscan.jpg "Penalty u/s 271(c) of Income Tax Act not imposable in the absence of deliberate Concealment and Inaccurate particulars: Madhya Pradesh HC [Read Order]")
![Penalty u/s 271(1)(c) cannot be made for Income Tax Additions made on ad-hoc basis: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Penalty-Income-Tax-Additions-ITAT-taxscan.jpg "Penalty u/s 271(1)(c) cannot be made for Income Tax Additions made on ad-hoc basis: ITAT [Read Order]")
Disallowance of Depreciation under MAT Provisions for Adjustments in Book of Profit does not Attract Penalty: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT), in a recent ruling has held in favour of the assessee that, no penalty can be imposed under Minimum Average Tax (MAT) provisions for...
![Disallowance of Depreciation under MAT Provisions for Adjustments in Book of Profit does not Attract Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Disallowance-Depreciation-MAT-Provisions-Book-of-Profit-Penalty-ITAT-taxscan.jpg "Disallowance of Depreciation under MAT Provisions for Adjustments in Book of Profit does not Attract Penalty: ITAT [Read Order]")
Disclosure of Undisclosed by Other Persons during Search Not Binding on Assessee, Penalty u/s 271AAB Not Leviable: ITAT [Read Order]
In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the penalty under section 271AAB of the Income Tax Act, 1961 is not leviable on the basis of disclosure...
![Disclosure of Undisclosed by Other Persons during Search Not Binding on Assessee, Penalty u/s 271AAB Not Leviable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Assessee-Penalty-ITAT-TAXSCAN.jpg "Disclosure of Undisclosed by Other Persons during Search Not Binding on Assessee, Penalty u/s 271AAB Not Leviable: ITAT [Read Order]")