![No Penalty If determination of Arm’s Length Price has not lead to any Transfer Pricing Adjustment, with no effect on income of the assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "No Penalty If determination of Arm’s Length Price has not lead to any Transfer Pricing Adjustment, with no effect on income of the assessee: ITAT [Read Order]")
No Penalty If determination of Arm’s Length Price has not lead to any Transfer Pricing Adjustment, with no effect on income of the assessee: ITAT [Read Order]
Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that if determination of arm’s length price has not lead to any transfer pricing...
![ITAT confirms Penalty since Assessee failed to Prove Genuineness of Cash Deposits [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/03/Cash-Transaction-Limit.jpg "ITAT confirms Penalty since Assessee failed to Prove Genuineness of Cash Deposits [Read Order]")
![Voluntary Disclosure in all cases can’t absolve the Assessee from Penal Liabilities: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-2-Tax-Scan.jpg "Voluntary Disclosure in all cases can’t absolve the Assessee from Penal Liabilities: Bombay HC [Read Judgment]")
![Making of a Claim which is not Sustainable in Law would not render Penal Liability: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "Making of a Claim which is not Sustainable in Law would not render Penal Liability: ITAT [Read Order]")
No Penalty If ALP was determined as per section 92C in Good Faith and with Due Diligence: ITAT Delhi [Read Order]
A division bench of the Delhi ITAT, last week held that penalty under section 271(1)(c ) of the Income Tax Act, 1961 cannot be levied if the Arm’s Length Price (ALP) was determined as per the scheme...
Voluntary Withdrawal of Rebate Claim would not amount to Concealment of particulars or Furnishing Inaccurate Particulars: Madras HC [Read Judgment]
The Madras High Court, while deleting penalty under section 271(1)(c) of the Income Tax Act, 1961, observed that voluntary withdrawal of rebate claim would not amount to concealment of particulars or...
![Voluntary Withdrawal of Rebate Claim would not amount to Concealment of particulars or Furnishing Inaccurate Particulars: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Madras-High-Court-Tax-Scan-1.jpg "Voluntary Withdrawal of Rebate Claim would not amount to Concealment of particulars or Furnishing Inaccurate Particulars: Madras HC [Read Judgment]")
Penalty u/s 271(1)(c) is not Leviable when a Bonafide Claim of the Assessee gets Rejected: ITAT [Read Order]
The Mumbai bench of the ITAT, in M/s. Buildbyte.com v. ACIT, held that penalty under section 271(1)(c) of the Income Tax Act cannot be levied in a case where the assessee made a bonafide claim and the...
No Penalty when Assessee made a Claim under Bona fide belief based on Judicial Precedence: ITAT [Read Order]
A division bench of the delhi Tribunal in DCIT v. American Express India Pvt. Ltd, held that penalty under Section 271(1)(c) of the Income Tax Act, 1961 is not leviable when Assessee made a claim...
Penalty cannot be levied when Legal Heir of Assessee Revises Return and Voluntarily Offers Income to Tax: ITAT Mumbai
In Late Smt. Leelabai Phadke v. ACIT, a division bench of the Mumbai ITAT quashed the penalty proceedings against the legal heir of the assessee he revised the return and voluntarily offered the...
Deferral of Depreciation Allowance cannot be a Ground for Levying Penalty: ITAT Grants Relief to Senior Advocate Harish Salve [Read Order]
Senior Advocate Harish Salve, on Thursday got relief from the Delhi Income Tax Appellate Tribunal (ITAT). The Tribunal, while deleting penalty proceedings against India’s one of the leading advocate,...
![Deferral of Depreciation Allowance cannot be a Ground for Levying Penalty: ITAT Grants Relief to Senior Advocate Harish Salve [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/Harish-Salve.jpg "Deferral of Depreciation Allowance cannot be a Ground for Levying Penalty: ITAT Grants Relief to Senior Advocate Harish Salve [Read Order]")
Penalty u/s 271(1)(c) is not Leviable when Income was Charged under MAT Provisions: ITAT Kolkata [Read Order]
In DCIT v. M/s Associate Alcohols & Breweries Ltd, the division bench of the Kolkata ITAT held that penalty under section 271(1)(c) of the Income Tax Act cannot be levied in cases where assessee...