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3 results for “penalty u/s 271”+ Permanent Establishmentclear

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Key Topics

Addition to Income3Section 276C(1)2Section 245C2Section 1482Penalty2Search & Seizure2

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

Crl.A. No.-003777-003779 - 2025Supreme Court28 Aug 2025

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

Section 132Section 132(4)Section 245Section 245CSection 245D(4)Section 276C(1)Section 279(1)Section 482

271 has been reduced or waived by an order under section 273A.] (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]. 12 (3) Where any proceeding has been taken against any person under sub-section

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

Section 10(15)Section 148Section 245CSection 245C(1)Section 271Section 32Section 80M

u/s 271(1)(c) was levied by the Assessing Officer for AY 1997-98 in respect of non disclosure of lease rental as income. The penalty order is annulled considering that the non disclosure was on account of RBI guidelines and the 32 subsequent disclosure of additional income of lease income before the Settlement Commission when the applicant realized

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

Permanent Account Number 4 CO No. 300/Del/2012 4 assessment order was made, as it had amalgamated with MIPL. The ITAT held inter alia, that: “The above assessee company did not exist on the date of the assessment order, we find that the assessment order passed by the ld AO is not sustainable in law in view of the· decision