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Income Tax : Penalty cannot be imposed under section 271 on debatable issue

The relevant facts of the case giving rise to these appeals are as follows. The assessee is a privat

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Income Tax : Penalty cannot be imposed under section 271 on debatable issue

The relevant facts of the case giving rise to these appeals are as follows. The assessee is a privat

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Income Tax : Penalty provisions u/s 271(1)(c) of the Act are not automatic provisions

Briefly stated, the facts giving rise to this appeal are that the assessee filed a return declaring

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Income Tax : Penalty u/s. 271(1)(c) cannot be levied where the tax as per regular Income tax proceedings is nil and tax is payable only as per MAT

The facts at the assessment stage show that the assessee declared total loss of Rs. 1,96,610/- for t

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Income Tax : Penalty under section 271 can be imposed only on guilty of concealment and furnishing inaccurate particulars of income

Facts, in brief, as per relevant orders are that assessment in this case was completed u/s 143(3) of

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Income Tax : Penalty under section 271 cannot be imposed on debatable issues

The brief facts of the case are that vide assessment order dated 29.12.2009, passed u/s 143 (3) of t

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Income Tax : Penalty under section 271 must be based on concealment of the particulars of the income and furnishing inaccurate particulars

The brief facts of the case are that the assessee under the head “interest and other charges” had de

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Income Tax : Penalty under section 271(1)(c) must establish the receipt amount in dispute constitutes income of the assessee and part from the falsity of the explanation given by the assesse

A search and seizure operation was carried out on 5.10.2007 in the business and residential premises

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Income Tax : Penalty under sec 271(1)( C ) not impossible on debatable issues

In appellate proceedings, Ld. CIT(A) allowed the assessee’s claim that the interest income of ` 13,1

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Income Tax : Penalty under srec 271(1)( C ) cannot be imposed after disclosure of fact in the balance sheet

The fact of the is the applicability of provision of sec 271 (1) (C) of the Act.after disclosure of

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Income Tax : Penalty under sec 271(1)( C ) cannot be imposed on a debatable issues

Briefly stated, the facts of the case are that the assessee wrote off a sum of Rs.19,48,743/- in its

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Income Tax : Mere disallowing the claim of deduction is not a ground to proceed penalty under sec 271(1)( C )

Brief facts of the instant case are that the assessee filed its return on 31.10.2002. On 28.3.2008 t

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Income Tax : Only on the basis that machine not liable to Claim depreciation penalty cannot be imposed under sec 271(1)( C )

The facts are that during the assessment proceedings, the A.O. noted that the assessee claimed depre

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Income Tax : Penalty under sec 271(1) cannot be reduced more than 100% of the tax sought to be evade

The Assessee is a finance and investment company. For the Assessment year under consideration for wh

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Income Tax : Penalty under sec 271(1)( c ) can be delete subject to the satisfaction of the CIT that the basis of levy does not survive

We can observe that the penalty under sec 271(1) (c) can be imposed only on the basis which can surv

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Income Tax : Penalty under sec 271(1) ( c ) can be imposed subject to the condition of concealment or inaccuracy in the particular provided by the assessee

In this appeal the assessee has raised various grounds, but only dispute is regarding the confirmati

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Income Tax : Penalty under sec 271D can be imposed in the absence of allotment against money received in cash or proper details of transaction

The tribunal in the impugned order has not referred to the factual matrix or given any finding eithe

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Income Tax : Penalty under sec 271 cannot be imposed if payment of tax with interest made within the time limit of notice of demand under sec 156 before the penalty proceeding concluded

We find that under the scheme of Section 271 AAA, there is a complete paradigm shift so far as penal

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Income Tax : Addition on which penalty levid under sec 271 can be restored to the file of the AO on reasonable cause

After considering the rival submissions we find that additions on which penalty has been levied u/s.

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Income Tax : Penalty under sec 271(1)(C) cannot be imposed either for concealment or furnishing inaccurate particulars

The relevant facts of the case are that the assessee is a company incorporated in Thailand and was e

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