Sunday, February 26, 2017
Tags Penalty

Tag: penalty

The Hon’ble Apex Court sets four Principles relating to levy of...

The Hon’ble Apex Court sets four Principles relating to levy of penalty under section 271(1) (c) of the Income Tax Act, 1961.   Principles relating to levy of penalty under section...

Income Tax Amendment Bill for demonetized black money

Following the announcement of declaring specified bank notes “as not legal tender”, it is felt that instead of allowing people to find illegal ways of converting their black money...

Permanent Account Number (PAN) – How to get it and penalties...

Permanent Account Number (PAN) is a mandatory requirement across the country for majority of the financial transactions. Most of us already have PAN issued in our names however many...
Demand and Recovery Under GST Act

Demand and Recovery under GST Act – A Quick Walk Through

Demand and Recovery under GST Act (Model Version) are basically laid down for the department, for providing them a framework in order to raise a demand on non-payment of any tax, interest or...

Penalty for Under-reporting and misreporting of income

Finance Bill 2016, has proposed to bring a big overhaul to the income tax regime with respect to penalty in the income-tax. Previously the regime offered for an imposition...

How can you benefit from The Direct Tax Dispute Resolution Scheme...

The Indian Finance Minister Mr.Arun Jaitley during the Union Budget 2016 stated that for bringing the number of taxation cases and litigation down across the country a Dispute Resolution...

No Penalty for bona fide delay in filing tax audit report

The Income Tax Appellate Tribunal, Jaipur in the case of M/s. Gemorium 1969, Dhabaji Ka Khurra, Ramganj Bazar, Jaipur vs. The ITO, Ward- 5(1) Jaipur having PAN/GIR No.: AACFG...

Penalty cannot be levied in case of huge loss

The Bombay High Court in the case of The Commissioner of Income Tax vs. M/s Garware Chemicals Ltd., Income Tax Appeal No. 916 of 2012 dated 10.3.2014 has held...