CIT v. Virgo Marketing (P) Ltd.

171 Taxmann 156High Court2008#193 most cited

What is CIT v. Virgo Marketing (P) Ltd. authority for?

The assessment order must clearly specify the reason for initiating penalty proceedings under Section 271(1)(c) and explicitly state whether it is for concealment of income or furnishing inaccurate particulars. Failure to identify the specific limb under which penalty is initiated renders the penalty unsustainable.

384

judgments rely on this decision, according to BharatTax’s citation analysis of 367,368 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Virgo Marketing · Section 271(1)(c) · initiation of penalty proceedings · assessment order · specific charge · concealment of income · furnishing inaccurate particulars · levy of penalty · Section 274 · Section 270A

Issues it is cited on

Judgments citing CIT v. Virgo Marketing (P) Ltd.

Sri. K. Venkatarami Reddy, Davangere vs. JCIT, Davangere

In the result, assessee’s appeal for asst

ITA 945/BANG/2016[2011-12]Status: DisposedITAT Bangalore23 Nov 2017AY 2011-12

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boazshri K Venkatarami Reddy, #1848/44-45, Iii Cross, Vinayaka Badavane, Vidhyanagar, Davangere. . Appellant Vs. The Jt. Commissioner Of Income-Tax, Davangere Range, Davangere. . Respondent Pan - Avpp2429M. Appellant By : Shri Narendra Sharma, Advocate Respondent By : Shri Pradeep Kumar, Acit Date Of Hearing : 22-11-2017 Date Of Pronouncement : 23-11-2017 O R D E R Per Shri Jason P Boaz: This Appeal By The Assessee Is Directed Against The Order Of The Commissioner Of Income-Tax (Appeals), Davangere Dated 29/2/2016; Partly Upholding The Orders Of The Jcit, Davangere Range Dated 3/2/2014 Levying Penalty U/S Ita No.945/B/16 2

For Appellant: Shri Narendra Sharma, AdvocateFor Respondent: Shri Pradeep Kumar, ACIT
Section 271Section 271(1)(c)Section 274

…IN THE INCOME TAX APPELLATE TRIBUNAL, BANGALORE BENCH “C” BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI JASON P BOAZ, ACCOUNTANT MEMBER Shri K Venkatarami Reddy, #1848/44-45, III Cross, Vinayaka Badavane, Vidhyanagar, Davangere. . Appellant Vs. The Jt. Commissioner of Income-tax, Davangere Range, Davangere. . Respondent PAN - AVPP2429M. Appellant by : Shri Narendra Sharma, Advocate Respondent by : Shri Pradeep Kumar, ACIT Date of Hearing : 22-11-2017 Date of Pronouncement : 23-11-2017 O R D E R PER SHRI JASON P BOAZ, ACCOUNTANT MEMBER : This appeal by the assessee is directed against the order of…