No penalty till decision in appeal, is an absolute law
Section 41 of Black Money (undisclosed foreign income and assets) act, 2015 empowers AO to levy penalty three times of…
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Today's
54F exemption is protected even in multiple ownership of residential properties ......Read More
Yesterday's Club expenditure ......Read More
Yesterday's Club expenditure ......Read More
Delayed actions invite penalty under the law
Whereas a right to substitute an incorrect return with a correct and complete return is given to an assessee by…
......Read MoreClaims during assessment proceedings r protected from penalty
Any claim for the loss made by way of letter during the course of assessment proceeding would not yield to…
......Read MoreWhether Delhi High Court overstepping law by granting immunity from penalty etc., u/s 270AA
Section 270AA is specific to immunity from imposition of penalty and prosecution. Under ss.(1) the assessee would make application to…
......Read MoreJurisdiction/notice defect
The High Court in [2022] 447 ITR 743 (Bom) reiterated that even if there was an order recording satisfaction for imposing penalty…
......Read MoreWrong initiation
When in the assessment order, no specific finding had been found recorded by the AO as to whether it was…
......Read MoreGeneric notice
Generic notice which are vague and suffer from ambiguity are liable to be challenged on the ground of non application…
......Read MoreRefund of penalty
In an interesting case fact reported at [2019] 412 ITR 642 (Mad) the assessee gave up the claim of depreciation…
......Read Moreomnibus 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,…
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