Web25 Jan 2024 · Section 271 (1) (c) of Income Tax Act 1961 (“The Act”), empower to Income Tax Authority to levy penalty under the Act, if the assessee officer or commissioner appeal or the principal commission during the any proceeding is satisfied that assessee has concealed the particulars of his income or furnished inaccurate particulars of income, he … Web3. Briefly stated the facts of the case are that the AO initiated penalty proceedings and penalty under section 271(1)(c) of the Income Tax Act, 1961 (hereinafter referred to as the Act) was levied vide order dated 17.03.2015 on addition of income under section 56(2)(vii)(b) of Rs. 25,52,137/- and capital gain under section 50C of Rs. 30,08,667 ...
Section 271(1)(c) Penalty when income determined by AO on
Web5 Aug 2024 · You are required to show cause why order imposing penalty under section 271F of Income-tax Act,1961 should not be passed as initiated by the penalty notice referred above. 4. Kindly submit your response along with supporting documentary evidence(s) if any, electronically in 'e-Proceeding' facility through your account in e-filing website … Web15 hours ago · ITAT Delhi held that penalty u/s 271(1)(c) of the Income Tax Act alleging inaccurate particulars not leviable as assessee was subjected to tax on book profits u/s … mining chemicals
Faceless penalty proceedings u.s. 271F - harassment due to …
Web13 hours ago · In respect of payment for preventive health check-up: In the case of an individual: (A) where the aggregate of such payment does not. Exceed rs. 5,000. the whole of such sum; (B) where the aggregate of such payment exceed. Rs. 5,000. Rs. 5,000. Tags: income tax act 1961, Income Tax Deductions. Web11 Apr 2024 · 11 April 2024 3:15 AM GMT. The Supreme Court has ruled that no penalty is leviable under Section 271C of the Income Tax Act, 1961 on mere delay in remittance of the tax deducted at source (TDS ... WebSection 271 (1) (c)& 275 (1A) of the Income Tax Act, 1961 — Penalty — Concealment Penalty — Requirement under section 275 (1A) is that A.O. must pass an order giving effect to the order of appellate authority and only thereafter consider the issue of imposition of penalty after giving opportunity of being heard to the assessee, matter remanded to … mining charter south africa pdf