Defect 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…
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Today's
Directors of NCLT lead companies held accountable for tax arrears of companies ......Read More
Yesterday's Revised return capping – a statutory handicap ......Read More
Yesterday's Revised return capping – a statutory handicap ......Read More
Penalty 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…
......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 MoreConcealment Penalty
The Kerala High court in the case of CIT v. A. Sreenivasa Pai (109TAX267) held that the right conferred on…
......Read MoreInfraction of Law- Confiscation by Customs Department
There is a distinction between an infraction of the law committed in the course of carrying on of a lawful…
......Read MoreAO Must Exercise Caution
Levy of a penalty is a part of the assessment proceedings and hence it signifies importance. U/s 44AA of the…
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