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3 results for “penalty u/s 271”+ Capital Gainsclear

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Mumbai1,199Delhi1,060Ahmedabad382Jaipur330Kolkata227Chennai219Bangalore198Hyderabad173Pune153Indore129Surat124Karnataka104Chandigarh85Visakhapatnam70Raipur61Lucknow39Nagpur36Calcutta35Rajkot31Amritsar31Cuttack30Ranchi28Agra23Cochin15Patna14Dehradun12Jodhpur11Guwahati6Panaji6Jabalpur5Telangana5Allahabad4Varanasi4SC3Gauhati1Rajasthan1

Key Topics

Section 271(1)(C)4Section 115Q2

DILIP N. SHROFF vs. JOINT COMMNR. OF INCOME TAX, MUMBAI &ANR

The appeal is allowed

C.A. No.-002746-002746 - 2007Supreme Court18 May 2007
For Respondent: Joint Commissioner of Income Tax, Mumbai & Anr

Capital Gains : As discussed above 3,09,78,478 Income from Other Sources : Interest income as per Statement 30,31,364 --------------- TOTAL INCOME 3,40,59,506 Rounded off 3,40,59,510 7. Assessed accordingly. Give credit for prepaid taxes. Charge interest u/s 234B and 234C. Initiate penalty proceedings u/s 271

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)

penalty u/s. 271(1)(C) was not exigible in the present case?" 6. The High Court compared the returns filed by the appellant under the Income Tax Act and the Wealth Tax Act and arrived at the following decision : "The principal is responsible for all the act done by the agent. That apart, in the case on hand there

GENPACT INDIA PRIVATE LIMITED vs. DEPUTY COMMISSIONER OF INCOME TAX

C.A. No.-008945-008945 - 2019Supreme Court22 Nov 2019

Bench: HON'BLE THE CHIEF JUSTICE

Section 115QSection 143(2)Section 77A

u/s 46A in the hands of shareholders. However, taking the benefit of Article 13 of India-Mauritius DTAA, which provides for capital gain arising on transfer of shares of Mauritius resident taxable in that country and under Mauritius tax laws capital gain is totally exempt, entire transaction used to escape the tax net. Thus to plug this loop hole