Refund of penalty
In an interesting case fact reported at [2019] 412 ITR 642 (Mad) the assessee gave up the claim of depreciation…
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Today's
Gross breach of natural justice ......Read More
Yesterday's TDS mismatch could mean loss of interest ......Read More
Yesterday's TDS mismatch could mean loss of interest ......Read More
omnibus show-cause notice
The full bench of the Bombay High Court in [2021] 434 ITR 1 held that penalty initiation during assessment proceedings…
......Read MoreLimited Protection u/s 292B
Vide (2021] 432 ITR 201 (Kar) any clerical or typographical error or omission in the return of income, assessment, notice,…
......Read MorePenalty prosecution disobedience of section 139(1)/142(1)
disobedience of section 139(1) or 142(1) notices could lend a person into jail vide [2018] 12 ITR-OL 751 (Del). The…
......Read MoreDefect in notice -a mixed question of fact and law
In (2020] 16 ITR-OL 3 (Mad) the counsel of the assessee for the first time before the High Court stated…
......Read MorePenalty for failure to report foreign assets (FA)
A new law called ‘THE BLACK MONEY (UNDISCLOSED FOREIGN INCOME AND ASSETS) AND IMPOSITION OF TAX ACT, 2015’ is passed…
......Read MoreNo pardon for professionally run company
In D & H Secheron Electrodes (P) Ltd. (281ITR421) the assessee company is found to have suppressed profits by: Debiting…
......Read MoreAdditional evidence in penalty proceedings may benefit in quantum too
Penalty and assessment proceedings are independent proceedings. Penalty proceedings follow assessment proceedings and start much later so that their outcome…
......Read MorePenalty U/S 271(1) (c)
The Patna High Court in the case of CIT v. Kailash Crockery House (107TAX386) held that furnishing inaccurate particulars of…
......Read MorePenalty u/s 271(1)(c)
Full and true disclosure of income is a primary obligation of the assessee. Any omission in this regard may lead…
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