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...
![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]")
![Assessees’ Right to Appeal cannot be denied by Applying Doctrine of Estoppel: ITAT Bangalore [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "Assessees’ Right to Appeal cannot be denied by Applying Doctrine of Estoppel: ITAT Bangalore [Read Order]")
No Penalty If Assessee Discloses Correct Income during Scrutiny Proceedings: ITAT Hyderabad [Read Order]
In Kalwa Bhaskar v. ACIT, the division bench of the Income Tax Appellate Tribunal (ITAT), Hyderabad held that penalty under Section 271(1)(c) of the income Tax Act is not leviable in a case where the...
No Penalty when the Assessee makes an Untenable Claim on the advice of Professional and later offers Income to Tax: Madras HC [Read Judgment]
In CIT v. Anita Kumaran, the division bench of the Madras High Court held that penalty under section 271(1)(c) of the Income Tax Act cannot be levied when the assessee, on the advice of the...
No Penalty When the Addition is made by invoking sec 50C and No Incriminating material is found: ITAT Mumbai [Read Order]
In a recent ruling, the Mumbai bench of the ITAT observed that penalty under section 271(1)(c) of the Income Tax Act cannot be levied on the assessee when the addition is made by invoking section 50C...
![No Penalty When the Addition is made by invoking sec 50C and No Incriminating material is found: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/No-Penalty-TaxScan.jpg "No Penalty When the Addition is made by invoking sec 50C and No Incriminating material is found: ITAT Mumbai [Read Order]")
Penalty u/s 271(1)(c) is Leviable only If the Assessee Files Incorrect, Erroneous or False Return: ITAT Hyderabad [Read Order]
The division bench of the ITAT Hyderabad recently ruled that penalty under section 271(1)(c) of the Income Tax Act cannot be levied if there is no finding that the return filed by the assessee is...
![Penalty u/s 271(1)(c) is Leviable only If the Assessee Files Incorrect, Erroneous or False Return: ITAT Hyderabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/Penalty-TaxScan.jpg "Penalty u/s 271(1)(c) is Leviable only If the Assessee Files Incorrect, Erroneous or False Return: ITAT Hyderabad [Read Order]")
Penalty is not leviable on Ground of Mere Disallowance of Expenditure Claimed: ITAT Mumbai [Read Order]
In a recent ruling, the Mumbai ITAT quashed the penalty proceedings initiated against the assessee under section 271(1)(c) of the Income Tax Act and held that penalty cannot be levied merely on ground...
Application u/s 50C to determine Capital Gain is not a Conclusive Proof that sale deed is incorrect or wrong: ITAT Ahmedabad [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal, in a recent decision, held that determination capital gain by applying section 50C of the Income Tax Act, 1961 cannot be treated as a...
![Application u/s 50C to determine Capital Gain is not a Conclusive Proof that sale deed is incorrect or wrong: ITAT Ahmedabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "Application u/s 50C to determine Capital Gain is not a Conclusive Proof that sale deed is incorrect or wrong: ITAT Ahmedabad [Read Order]")