COMMR.OF INCOME TAX-XVIII,DELHI vs. BANK OF NOVA SCOTIA

Bench: The Income Tax Appellate Tribunal. The Income Tax Appellate Tribunal Vide Order Dated 31.03.2006 Entered The Following Findings: “11..We Have Carefully Considered The Rival Submissions. In The Instant Case We Are Not Dealing With Collection Of Tax U/S 201(1) Or Compensatory Interest U/S 201(1A). The Case Of The Assessee Is That These Amounts Have Already Been Paid So As To End Dispute With Revenue. In The Present Appeals We Are Concerned With Levy Of 1

penalty u/s 271-C for which it is necessary to establish that there was contumacious conduct on the part

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

The appeal is allowed

penalty u/s. 271(1)(C) was not exigible in the present case?" 6. The High Court compared the returns

KOTAK MAHINDRA BANK LIMITED vs. COMMISSIONER OF INCOME TAX BANGALORE

The appeal is allowed

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

Penalty u/s 271(1)(c) was levied by the Assessing Officer for AY 1997-98 in respect of non disclosure

VIJAY KRISHNASWAMI @ KRISHNASWAMI VIJAYAKUMAR vs. THE DEPUTY DIRECTOR OF INCOME TAX (INVESTIGATION)

Bench: The Additional Chief Metropolitan Magistrate (E.O.Ii), Egmore, Chennai, For The Offence Under Section 276C(1)2 Of The Income Tax Act, 1961, (In Short “It Act”) For Assessment Year 2017- 1 High Court Of Judicature At Madras. 2 Wilful Attempt To Evade Tax, Etc. 1 Digitally Signed By Gulshan Kumar Arora Date: 2025.08.28 20:56:48 Ist Reason: Signature Not Verified

penalty u/s 271(1)(C) exceeding Rs.50,000/- is imposed and confirmed by the ITAT (if any second appeal

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

Appeals are disposed of with the aforementioned directions

Penalty proceedings u/s 271(1)(c) are initiated separately for furnishing of in-accurate particulars of income assessed. The Assessing

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

Bench: HON'BLE THE CHIEF JUSTICE

penalty proceedings u/s 271(1)(c) are attracted on this score. (Addition of Rs. 6,05,71,018/-)” 40. The facts

M/S TOYOTA MOTOR CORPORATION vs. COMMR.OF INCOME TAX

The appeal is dismissed with the aforesaid observations

Bench: The Assessing Officer. What The High Court Has Done Is To Require The Assessing Officer To Pass A -2-

penalty proceedings initiated in this case u/s 271 C read with Section 274 of the Income Tax Act, 1961 are hereby

K. KRISHNAMURTHY vs. THE DEPUTY COMMISSIONER OF INCOME TAX

Appeal is disposed of with

Bench: HON'BLE MR. JUSTICE DIPANKAR DATTA

271-AAA of the Act reads as follows: “The assessing Officer may, notwithstanding anything contained in any other provisions of this Act, direct that, in a case where search has been initiated under section 132 on or after the 1st day of June, 2007 [but before the 1st day of July, 2012], the assessee shall pay by way of penalty

ASSTT.COMMR.OF INCOME TAX vs. M/S HOTEL BLUE MOON

u/s 68 of the Income Tax Act, 1961 should be deleted or set aside.” 4) The High Court, disagreeing with the Tribunal, held, that the provisions of Section 142 and sub- sections (2) and (3) of Section 143 will have mandatory application in a case where the assessing officer in repudiation of return filed in response to a notice issued

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

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

GENPACT INDIA PRIVATE LIMITED vs. DEPUTY COMMISSIONER OF INCOME TAX

Bench: HON'BLE THE CHIEF JUSTICE

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

VINUBHAI MOHANLAL DOBARIA vs. CHIEF COMMISSIONER OF INCOME TAX

The appeal is disposed of in the aforesaid terms

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

271 has been reduced or waived by an order under section 273A. SLP (C) NO. 20519 of 2024 Page 37 of 59 (2) Any offence under this Chapter may, either before or after the institution of proceedings, be compounded by the Principal Chief Commissioner or Chief Commissioner or a Principal Director General or Director General. (3) Where any proceeding