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6 results for “penalty u/s 271”+ Business Incomeclear

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Key Topics

Section 276C6Section 271(1)(C)4Section 1253Section 1123Penalty3Addition to Income3Section 130A2Section 143(2)2Section 1482

SRI T. ASHOK PAI vs. COMMISSIONER OF INCOME TAX, BANGALORE

The appeal is allowed

C.A. No.-002747-002747 - 2007Supreme Court18 May 2007
For Respondent: Commissioner of Income Tax, Bangalore
Section 271(1)(C)

business. He has also earned income from dividend and interest. The banker of the assessee was the Syndicate Bank. A power of attorney was given by the appellant in its favour. The shares of the companies which the appellant owned were lodged with and in custody of the said Bank. Under his instructions, the Bank used to purchase shares

KOTAK MAHINDRA BANK LIMITED vs. COMMISSIONER OF INCOME TAX BANGALORE

The appeal is allowed

C.A. No.-009720-009720 - 2014Supreme Court25 Sept 2023

Bench: HON'BLE MRS. JUSTICE B.V. NAGARATHNA

Deduction2
Survey u/s 133A2
Section 10(15)
Section 148
Section 245C
Section 245C(1)
Section 271
Section 32
Section 80M

business on receiving approval from the Reserve Bank of India (hereinafter “RBI” for short) vide Circular dated 19.02.1994. Thus, the appellant derives its income, inter alia, from banking activities as well as from leasing transactions. 2.1. The appellant filed its income tax returns for the assessment years 1994-1995 to 1999-2000 and assessment orders were passed up to assessment

COMMR.OF INCOME TAX,SIMLA vs. M/S GREEN WORLD CORPORATION

Appeals are disposed of with the aforementioned directions

C.A. No.-003312-003312 - 2009Supreme Court06 May 2009
Section 133Section 133ASection 143(1)(a)Section 143(2)Section 80I

Penalty proceedings u/s 271(1)(c) are initiated separately for furnishing of in-accurate particulars of income assessed. The Assessing Officer is directed to calculate the tax and interest on this income and issue Demand Notice and Challan to the assessee firm. 6 17. Similar conditions i.e. non fulfillment of the prerequisite conditions for deduction u/s 80IA/IB and excessive declared

PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) 2 vs. M/S MAHAGUN REALTORS (P) LTD

The appeal is allowed, in the above terms, without order on costs

C.A. No.-002716-002716 - 2022Supreme Court05 Apr 2022

Bench: HON'BLE THE CHIEF JUSTICE

Section 143(2)Section 153ASection 276C

business income. 6.2 Subsequent to survey operation a search and seizure operation u/s. 132 of the Income-Tax Act, 1961 was carried out in the hands of the assessee group. During the search incriminating documents/ diaries which contained entries of unaccounted income generated on account of receipt of ‘on money’ etc. were found and on being confronted, Shri Amit Jain

VINUBHAI MOHANLAL DOBARIA vs. CHIEF COMMISSIONER OF INCOME TAX

The appeal is disposed of in the aforesaid terms

C.A. No.-001977-001977 - 2025Supreme Court07 Feb 2025

Bench: HON'BLE MR. JUSTICE J.B. PARDIWALA

Section 143(1)Section 276C

business or profession, the date of the expiry of four months from the end of the previous year or where there is more than one previous year, from the end of the previous year which expired last before the commencement of the assessment year or the 30th day of June of the assessment year, whichever is later

COMMNR. OF CUSTOMS (IMPORT) vs. STONEMAN MARBLE INDUSTRIES

C.A. No.-004371-004383 - 2004Supreme Court21 Jan 2011
Section 111Section 112Section 125Section 130A

u/s. 112[a] from Rs. 29,40,000/- to Rs. 7,50,000/- in Appeal No. C/1030/01-Mum and in reducing the redemption fine from Rs. 42,84,000/- to Rs. 7,00,000/- and penalty from Rs. 4,00,000/- to Rs. 2,00,000/- in Appeal No. C/1042/201-Mum by following its earlier orders in the case of Stonemann Marble