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19 results for “penalty u/s 271”+ Section 58clear

Sorted by relevance

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Key Topics

Section 80I23Section 271(1)(c)21Addition to Income19Deduction16Section 143(3)14Section 27412Depreciation11Disallowance11Section 250

MESERS MALWA MOTORS,BATHINDA vs. INCOME TAX OFFICER, WARD-1(3), BATHINDA

In the result, the assessee’s appeal is allowed for statistical purposes

ITA 131/ASR/2018[2012-13]Status: DisposedITAT Amritsar27 Jun 2019AY 2012-13

Bench: Sh. Sanjay Arorai.T.A. No. 131/Asr/2018 Assessment Year: 2012-13

For Appellant: Sh. P. N. Arora (Adv.)For Respondent: Sh. Charan Dass (D.R.)
Section 143(3)Section 271(1)(c)Section 274

58,548. The same found endorsement in first appeal by the ld. CIT(A). The assessee had been unable to discharge the onus on it under Explanation 1 to sec. 271(1)(c). The plea as to the addition being agreed to, so that it would save penalty, did not find acceptance; the law in the matter having been clarified

THE BANGA COOPERATIVE MARKETING SOCIETY LIMITED,BANGA vs. INCOME TAX OFFICER, NAWANSHAHAR

10
Section 3210
Section 43(1)10
Penalty7

In the result, the appeals of the assessee are allowed

ITA 358/ASR/2018[2009-10]Status: DisposedITAT Amritsar16 Jan 2019AY 2009-10

Bench: Sh. N. K. Saini, Hon’Ble & Sh. Ravish Sood

For Appellant: Sh. Nirmal Mahajan, CAFor Respondent: Sh. Ankit Kumar Aggarwal, DR
Section 148Section 271Section 271(1)(c)Section 274Section 80P

58,960/-. However, the AO framed the assessment at an income of Rs.1,90,240/- and also initiated the penalty proceedings u/s 271(1)(c) of the Act for furnishing of inaccurate particulars of income. However, the penalty u/s 271(1)(c) of the Act was levied by the AO for concealment of inaccurate particulars of income. ITA Nos.358 & 359/Asr

THE BANGA COOPERATIVE MARKETING SOCIETY LIMITED,BANGA vs. INCOME TAX OFICER,NAWANSHAHAR, NAWANSHAHAR

In the result, the appeals of the assessee are allowed

ITA 363/ASR/2018[2014-15]Status: DisposedITAT Amritsar16 Jan 2019AY 2014-15

Bench: Sh. N. K. Saini, Hon’Ble & Sh. Ravish Sood

For Appellant: Sh. Nirmal Mahajan, CAFor Respondent: Sh. Ankit Kumar Aggarwal, DR
Section 148Section 271Section 271(1)(c)Section 274Section 80P

58,960/-. However, the AO framed the assessment at an income of Rs.1,90,240/- and also initiated the penalty proceedings u/s 271(1)(c) of the Act for furnishing of inaccurate particulars of income. However, the penalty u/s 271(1)(c) of the Act was levied by the AO for concealment of inaccurate particulars of income. ITA Nos.358 & 359/Asr

THE BANGA COOPERATIVE MARKETING SOCIETY LIMITED,BANGA vs. INCOME TAX OFFICER, NAWANSHAHAR

In the result, the appeals of the assessee are allowed

ITA 362/ASR/2018[2011-12]Status: DisposedITAT Amritsar16 Jan 2019AY 2011-12

Bench: Sh. N. K. Saini, Hon’Ble & Sh. Ravish Sood

For Appellant: Sh. Nirmal Mahajan, CAFor Respondent: Sh. Ankit Kumar Aggarwal, DR
Section 148Section 271Section 271(1)(c)Section 274Section 80P

58,960/-. However, the AO framed the assessment at an income of Rs.1,90,240/- and also initiated the penalty proceedings u/s 271(1)(c) of the Act for furnishing of inaccurate particulars of income. However, the penalty u/s 271(1)(c) of the Act was levied by the AO for concealment of inaccurate particulars of income. ITA Nos.358 & 359/Asr

THE BANGA COOPERATIVE MARKETING SOCIETY LIMITED,BANGA vs. INCOME TAX OFFICER , NAWANSHAHAR

In the result, the appeals of the assessee are allowed

ITA 359/ASR/2018[2010-11]Status: DisposedITAT Amritsar16 Jan 2019AY 2010-11

Bench: Sh. N. K. Saini, Hon’Ble & Sh. Ravish Sood

For Appellant: Sh. Nirmal Mahajan, CAFor Respondent: Sh. Ankit Kumar Aggarwal, DR
Section 148Section 271Section 271(1)(c)Section 274Section 80P

58,960/-. However, the AO framed the assessment at an income of Rs.1,90,240/- and also initiated the penalty proceedings u/s 271(1)(c) of the Act for furnishing of inaccurate particulars of income. However, the penalty u/s 271(1)(c) of the Act was levied by the AO for concealment of inaccurate particulars of income. ITA Nos.358 & 359/Asr

V R A COTTON MILLS.,ABOHAR vs. DY.COMMISSIONER OF INCOME TAX , BATHINDA

In the result, appeal filed by the assessee stands allowed

ITA 10/ASR/2019[2008-09]Status: DisposedITAT Amritsar09 Oct 2019AY 2008-09

Bench: Sh. B.R. Baskaran & Sh. N.K.Choudhry

For Appellant: Sh. P. N. Arora (Ld. Adv.)For Respondent: Sh. Charan Dass (Ld. DR)
Section 194CSection 250(6)Section 271(1)(c)Section 40Section 40ASection 80I

58,665/-. 4.1 In the return of income, the assessee has also claimed deduction u/s 80IB @ 30% of the gross total income of Rs.65,40,056/-. The Assessing Officer reckoned that the gross total income included “other income” at Rs.53,15,330/- which could not be said to be derived from Industrial undertaking and while computing the allowable deduction u/s.80IB

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FILL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

ITA 291/ASR/2015[2004-05]Status: DisposedITAT Amritsar24 Feb 2023AY 2004-05

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250Section 32Section 43(1)Section 80I

Penalty proceedings u/s 271(1) (c) of the I.T. Act, 1961 are, therefore, initiated on this issue.” 14. The ld. counsel for the assessee further argued and relied on the order of the ld. CIT(A) the relevant paragraph 15 of the CIT(A) order is extracted as below: “15 ISSUE 8: DISALLOWANCEOFDEPRECIATIONOFRS.18,92,163/- ANDRS. 3,10,253/- U/S

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FILL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

ITA 289/ASR/2015[2002-03]Status: DisposedITAT Amritsar24 Feb 2023AY 2002-03

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250Section 32Section 43(1)Section 80I

Penalty proceedings u/s 271(1) (c) of the I.T. Act, 1961 are, therefore, initiated on this issue.” 14. The ld. counsel for the assessee further argued and relied on the order of the ld. CIT(A) the relevant paragraph 15 of the CIT(A) order is extracted as below: “15 ISSUE 8: DISALLOWANCEOFDEPRECIATIONOFRS.18,92,163/- ANDRS. 3,10,253/- U/S

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FIL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

ITA 293/ASR/2015[2007-08]Status: DisposedITAT Amritsar24 Feb 2023AY 2007-08

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250Section 32Section 43(1)Section 80I

Penalty proceedings u/s 271(1) (c) of the I.T. Act, 1961 are, therefore, initiated on this issue.” 14. The ld. counsel for the assessee further argued and relied on the order of the ld. CIT(A) the relevant paragraph 15 of the CIT(A) order is extracted as below: “15 ISSUE 8: DISALLOWANCEOFDEPRECIATIONOFRS.18,92,163/- ANDRS. 3,10,253/- U/S

THE DY. COMMISSIONER OF INCOME TAX, JAMMU vs. M/S. FIL INDUSTRIES LTD, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

ITA 470/ASR/2015[2009-10]Status: DisposedITAT Amritsar24 Feb 2023AY 2009-10

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250Section 32Section 43(1)Section 80I

Penalty proceedings u/s 271(1) (c) of the I.T. Act, 1961 are, therefore, initiated on this issue.” 14. The ld. counsel for the assessee further argued and relied on the order of the ld. CIT(A) the relevant paragraph 15 of the CIT(A) order is extracted as below: “15 ISSUE 8: DISALLOWANCEOFDEPRECIATIONOFRS.18,92,163/- ANDRS. 3,10,253/- U/S

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FIL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

ITA 294/ASR/2015[2008-09]Status: DisposedITAT Amritsar24 Feb 2023AY 2008-09

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250Section 32Section 43(1)Section 80I

Penalty proceedings u/s 271(1) (c) of the I.T. Act, 1961 are, therefore, initiated on this issue.” 14. The ld. counsel for the assessee further argued and relied on the order of the ld. CIT(A) the relevant paragraph 15 of the CIT(A) order is extracted as below: “15 ISSUE 8: DISALLOWANCEOFDEPRECIATIONOFRS.18,92,163/- ANDRS. 3,10,253/- U/S

THE DY. COMMISSIONER OF INCOME TAX, JAMMU vs. M/S. FIL INDUSTRIES LTD, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

ITA 471/ASR/2015[2010-11]Status: DisposedITAT Amritsar24 Feb 2023AY 2010-11

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250Section 32Section 43(1)Section 80I

Penalty proceedings u/s 271(1) (c) of the I.T. Act, 1961 are, therefore, initiated on this issue.” 14. The ld. counsel for the assessee further argued and relied on the order of the ld. CIT(A) the relevant paragraph 15 of the CIT(A) order is extracted as below: “15 ISSUE 8: DISALLOWANCEOFDEPRECIATIONOFRS.18,92,163/- ANDRS. 3,10,253/- U/S

M/S FIL INDUSTRIES LTD,SRINAGAR vs. THE ADDL. COMMISSIONER OF INCOME TAX, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

ITA 255/ASR/2015[2008-09]Status: DisposedITAT Amritsar24 Feb 2023AY 2008-09

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250Section 32Section 43(1)Section 80I

Penalty proceedings u/s 271(1) (c) of the I.T. Act, 1961 are, therefore, initiated on this issue.” 14. The ld. counsel for the assessee further argued and relied on the order of the ld. CIT(A) the relevant paragraph 15 of the CIT(A) order is extracted as below: “15 ISSUE 8: DISALLOWANCEOFDEPRECIATIONOFRS.18,92,163/- ANDRS. 3,10,253/- U/S

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FILL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

ITA 290/ASR/2015[2003-04]Status: DisposedITAT Amritsar24 Feb 2023AY 2003-04

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250Section 32Section 43(1)Section 80I

Penalty proceedings u/s 271(1) (c) of the I.T. Act, 1961 are, therefore, initiated on this issue.” 14. The ld. counsel for the assessee further argued and relied on the order of the ld. CIT(A) the relevant paragraph 15 of the CIT(A) order is extracted as below: “15 ISSUE 8: DISALLOWANCEOFDEPRECIATIONOFRS.18,92,163/- ANDRS. 3,10,253/- U/S

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FIL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

ITA 292/ASR/2015[2006-07]Status: DisposedITAT Amritsar24 Feb 2023AY 2006-07

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250Section 32Section 43(1)Section 80I

Penalty proceedings u/s 271(1) (c) of the I.T. Act, 1961 are, therefore, initiated on this issue.” 14. The ld. counsel for the assessee further argued and relied on the order of the ld. CIT(A) the relevant paragraph 15 of the CIT(A) order is extracted as below: “15 ISSUE 8: DISALLOWANCEOFDEPRECIATIONOFRS.18,92,163/- ANDRS. 3,10,253/- U/S

M/S FIL INDUSTRIES LTD,SRINAGAR vs. THE DY COMMISSIONER OF INCOME TAX, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

ITA 417/ASR/2015[2010-11]Status: DisposedITAT Amritsar24 Feb 2023AY 2010-11

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250Section 32Section 43(1)Section 80I

Penalty proceedings u/s 271(1) (c) of the I.T. Act, 1961 are, therefore, initiated on this issue.” 14. The ld. counsel for the assessee further argued and relied on the order of the ld. CIT(A) the relevant paragraph 15 of the CIT(A) order is extracted as below: “15 ISSUE 8: DISALLOWANCEOFDEPRECIATIONOFRS.18,92,163/- ANDRS. 3,10,253/- U/S

M/S NICE TELECOM,MANSA vs. THE INCOME TAX OFFICER, WARD 1(4), MANSA

In the result, the assessee’s appeal is allowed

ITA 153/ASR/2014[2007-08]Status: DisposedITAT Amritsar07 Feb 2019AY 2007-08

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. No. 153/Asr/2014 Assessment Year: 2007-08

For Appellant: Sh. I. S. Khurana (C.A.)For Respondent: Sh. Charan Dass (D.R.)
Section 142(1)Section 143(3)Section 144Section 147Section 148(1)Section 148(2)Section 2Section 271(1)(c)

58,675, recovery account Rs. 1,96,636, salary paid Rs. 9,66,000, which are on the very much higher side. After discussion with the assessee and his counsel, an addition of Rs.80,000 is made to the returned income for which the assessee agreed subject to no penalty action u/s. 271(1)(c) to cover up any leakage

M/S. JAMMU DEVELOPMENT AUTHORITY,,JAMMU ( J&K) vs. THE DEPUTY COMMISSIONER OF INCOME TAX, JAMMU

In the result, the appeal of the assessee is partly allowed for statistical purposes and the appeal of the department is dismissed

ITA 498/ASR/2013[2005-06]Status: DisposedITAT Amritsar20 Mar 2019AY 2005-06

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 498/Asr./2013 : Asstt. Year : 2005-06 Jammu Development Authority, Vs Dy. Commissioner Of Income Vikas Bhawan, Rail Head Tax, Circle-I, Complex, Jammu, J & K Jammu (Appellant) (Respondent) Pan No. Aadfj7335A Ita No. 494/Asr./2013 : Asstt. Year : 2005-06 Dy. Commissioner Of Income Vs Jammu Development Authority, Tax, Circle-I, Vikas Bhawan, Rail Head Jammu Complex, Jammu, J & K (Appellant) (Respondent) Pan No. Aabcp1720E Assessee By : Shri. R. K. Gupta, Ca & Shri. Vasu Gupta, Ca Revenue By : Shri. M. P. Singh, Cit Dr Date Of Hearing :21.02.2019 Date Of Pronouncement : 22.03.2019 Order Per N. S. Saini: These Are The Cross Appeals Filed By The Assessee & Revenue Against The Order Of Commissioner Of Income Tax (Appeals) Dated 06.05.2013, Jammu.

For Appellant: Shri. R. K. Gupta, CA &For Respondent: Shri. M. P. Singh, CIT DR

Penalty proceedings u/s 271(1)(c) are being initiated separately for furnishing wrong and inaccurate particulars of income. (Even by adopting the straight line method, the interest accrued on FDRs amounting to Rs.27,87,90,781/- @ 5% (the rate reflected by the assessee in the return of income) comes to Rs.1,39,39,539/-. If the interest reflected

THE DEPUTY COMMISSIONER OF INCOME TAX, JAMMU vs. M/S. JAMMU DEVELPMENT AUTHORITY,, JAMMU

In the result, the appeal of the assessee is partly allowed for statistical purposes and the appeal of the department is dismissed

ITA 494/ASR/2013[2005-06]Status: DisposedITAT Amritsar20 Mar 2019AY 2005-06

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 498/Asr./2013 : Asstt. Year : 2005-06 Jammu Development Authority, Vs Dy. Commissioner Of Income Vikas Bhawan, Rail Head Tax, Circle-I, Complex, Jammu, J & K Jammu (Appellant) (Respondent) Pan No. Aadfj7335A Ita No. 494/Asr./2013 : Asstt. Year : 2005-06 Dy. Commissioner Of Income Vs Jammu Development Authority, Tax, Circle-I, Vikas Bhawan, Rail Head Jammu Complex, Jammu, J & K (Appellant) (Respondent) Pan No. Aabcp1720E Assessee By : Shri. R. K. Gupta, Ca & Shri. Vasu Gupta, Ca Revenue By : Shri. M. P. Singh, Cit Dr Date Of Hearing :21.02.2019 Date Of Pronouncement : 22.03.2019 Order Per N. S. Saini: These Are The Cross Appeals Filed By The Assessee & Revenue Against The Order Of Commissioner Of Income Tax (Appeals) Dated 06.05.2013, Jammu.

For Appellant: Shri. R. K. Gupta, CA &For Respondent: Shri. M. P. Singh, CIT DR

Penalty proceedings u/s 271(1)(c) are being initiated separately for furnishing wrong and inaccurate particulars of income. (Even by adopting the straight line method, the interest accrued on FDRs amounting to Rs.27,87,90,781/- @ 5% (the rate reflected by the assessee in the return of income) comes to Rs.1,39,39,539/-. If the interest reflected