ITR

Consolidation of cases of year 2020 for Section 147 & 148 in favour of the Assessee.

noreply@blogger.com (Unknown) — Mon, 25 Oct 2021 03:06:00 +0530

1 { In Favor of Assessee } [A (SC]-[S.147] BPTP Ltd. v. CIT (2020) 421 ITR 59 / 312 CTR 514/185 DTR 372 / 113 Taxmann.com 587 (DelhiHC) Reassessment-After the expiry of four years-Change of opinion-Details were furnished in response to questionnaires-Failure to deduct tax at source-Notice is not valid.[S. 40(a)(ia), 148, 194I,Art.226] Allowing the

Consolidation of cases of calendar year 2020 for Section 147 & 148 in favour of the Revenue & set aside.

noreply@blogger.com (Unknown) — Sun, 24 Oct 2021 14:40:00 +0530

Section :- S. 271(1)(c), S.274 Court (Cuttack)(Trib.) Penalty-Concealment-Inapplicable words in notice not struck off-Penalty order not specifying exactly under which limb penalty is levied-Penalty is held to be unjustified. [S. 274] The AO levied penalty which was confirmed by the CIT(A) On appeal the Tribunal held that notices under S. 274 read

S. 271(1)(c), S. 22, 133A, Court (Jaipur)(Trib.), Penalty-Concealment-Survey-Surrender of income-No difference between returned income and assessed income-Penalty is not leviable-As regards non disclosure of rental income-Penalty is leviable. [S. 22, 133A]

noreply@blogger.com (Unknown) — Wed, 13 Oct 2021 23:58:00 +0530

Section :- S. 271(1)(c), Explanation 5A Court (Jaipur)(Trib.) Penalty-Concealment-Initiation of penalty proceedings on both charges-Penalty levied on a specific charge of concealing particulars of income-Levy of penalty is held to be justified. [Explanation 5A] The Tribunal held that the assessee was made aware of both the charges at the time of

S. 271(1)(c), S. 254(1), Court (Bom.)(HC), Penalty-Concealment-Order of Tribunal set aside the appeal to CIT(A) is held to be valid. [S. 254(1)]

noreply@blogger.com (Unknown) — Wed, 13 Oct 2021 23:55:00 +0530

Section :- S. 271(1)(c), S. 254(1) Court (Bom.)(HC) Penalty-Concealment-Order of Tribunal set aside the appeal to CIT(A) is held to be valid. [S. 254(1)

S. 271(1)(c), [S. 145], Court (SC), Penalty-Concealment-Mercantile method of accounting-Recovery of loan was doubtful-interest has shown as income-Deletion of penalty is held to be justified. [S. 145]

noreply@blogger.com (Unknown) — Wed, 13 Oct 2021 23:55:00 +0530

Section :- S. 271(1)(c), [S. 145] Court (SC) Penalty-Concealment-Mercantile method of accounting-Recovery of loan was doubtful-interest has shown as

S. 271(1)(c), Court (SC), Penalty-Concealment-Mercantile method of accounting-Recovery of loan was doubtful-interest has shown as income-Deletion of penalty is held to be justified. [S. 145]

noreply@blogger.com (Unknown) — Wed, 13 Oct 2021 23:54:00 +0530