Income Tax News, Judgments, Act, Analysis, Tax Planning, Advisory, E filing of returns, CA Students

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Appeal against levy of penalty

A debatable claim could not result in penalty- No Penalty u/s 271 on Debatable Issue 2 min read

Income Tax

A debatable claim could not result in penalty- No Penalty u/s 271 on Debatable Issue

Manager 6 years ago

The section 271(1) (c) of the income tax act 1961, clearly states that no penalty would be levied on an income tax payer if the... Read More

No penalty under section 271(1) (c) in case of concealment of income due to “bonafide mistake” by an assessee

Changes in the law relating to levy of penalty in the Finance Bill, 2016 4 min read

Income Tax

Changes in the law relating to levy of penalty in the Finance Bill, 2016

Manager 7 years ago

The Finance Bill, 2016 aims to make drastic changes to the law relating to levy of penalty for concealment of income and furnishing of incorrect... Read More