Income Tax

Penalty u/s 271 (l) (c) is a civil liability – HC – Income Tax 2 min read

• Income Tax

Penalty u/s 271 (l) (c) is a civil liability – HC – Income Tax

Aditijh 9 years ago

In the process of any proceedings or hearing under the Act, if the AO (assessing officer) or Commissioner is found that any tax payer has... Read More

CBDT to make scrutiny guidelines public 4 min read

• Income Tax

CBDT to make scrutiny guidelines public

Aditijh 9 years ago

The CBDT has issued an instruction on 02.09.2014 announcing that the criteria for selection of cases for scrutiny for the financial year 2014 -15 shall... Read More

Check EPF Balance Online 2 min read

• Income Tax

Check EPF Balance Online

9 years ago

In this hi-tech era, digitization has covered everything in financial market too. How can EPFO stay behind? Now, EPF investors can get all details of... Read More

When can reopening of assessment be allowed? 4 min read

• Income Tax

When can reopening of assessment be allowed?

9 years ago

Section 147 of the Income Tax Act, 1961 allows reopening of assessment of income, in case the Assessing Officer believes that any income which is... Read More

Is “mens rea” an essential factor for levy of penalty? 4 min read

• Income Tax

Is “mens rea” an essential factor for levy of penalty?

9 years ago

The debate as to whether “mens rea” is an essential ingredient for levy of penalty has been never ending. It is a common issue as... Read More

All about Penalty under section 271(1) (c) 2 min read

• Income Tax

All about Penalty under section 271(1) (c)

Aditijh 9 years ago

Section 271(1) (c) of the Income Tax Act, 1961 deals with levy of penalty due to concealment of income by an assessee. Penalty under section... Read More

No concealment penalty can be levied on the basis of disallowance of claim for expenditure 3 min read

• Income Tax

No concealment penalty can be levied on the basis of disallowance of claim for expenditure

9 years ago

The Apex Court in the case of CIT v. Reliance Petro products Pvt. Ltd., 322 ITR 158, reiterated that disallowance of claim for expenditure does... Read More

Concealing foreign assets will attract penalty 4 min read

• Income Tax

Concealing foreign assets will attract penalty

9 years ago

Declaring foreign assets in the income tax return has been made mandatory in the Assessment Year 2012-13. Only Indian residents having the status of ‘resident... Read More

Assessment under the Income Tax laws 7 min read

• Income Tax

Assessment under the Income Tax laws

9 years ago

Every taxpayer is liable to furnish the particulars of his income before the Income Tax Department. Such details are required to be furnished by way... Read More

Parin K. Rajwani vs. JCIT (ITAT Mumbai) 2 min read

• Income Tax

Parin K. Rajwani vs. JCIT (ITAT Mumbai)

Aditijh 9 years ago

The real assessment order was passed on the November 30, 2010 on which date the Assessing officer proposed to begin penalty proceedings under section 271... Read More