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    July 23, 2026   Case LawsIncome Tax
    Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
    July 23, 2026   Case LawsIncome Tax
    Statutory bar on probation invalidates release of a person convicted for making a false income-tax return statement.
    July 23, 2026   Case LawsIncome Tax
    Ten-year reassessment limitation includes the search assessment year in search cases, rendering notices beyond the period time-barred.
    July 23, 2026   Case LawsIncome Tax
    Reasonable cause for inadvertent Form 3CD omissions can prevent penalty where software error and no mala fide intent are shown.
    July 23, 2026   Case LawsIncome Tax
    Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
    July 23, 2026   Case LawsIncome Tax
    Redeveloped flat holding period follows original ownership rights, supporting long-term capital gains, indexed cost and residential-house exemption.
    July 23, 2026   Case LawsIncome Tax
    Dependent agent permanent establishment attribution was deleted, while unexamined refund interest required fresh consideration after adequate hearing.
    July 23, 2026   Case LawsIncome Tax
    Profit embedded in unaccounted business receipts was taxed at a 1% gross-profit rate; unsupported salary and asset additions failed.
    July 23, 2026   Case LawsIncome Tax
    Effective opportunity to explain foreign bank credits required remand for fresh appellate consideration with supporting evidence.
    July 23, 2026   Case LawsIncome Tax
    Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
    July 23, 2026   Case LawsIncome Tax
    Related-party interest deductions require excess over fair market value, while unsupported software and brokerage claims remain disallowable.
    July 23, 2026   Case LawsIncome Tax
    Scope of reassessment restricts unrelated additions when the recorded escapement issue is accepted without any addition.
    July 23, 2026   Case LawsIncome Tax
    Capital-gains exemption for under-construction flats remains available despite developer delay and may be admitted despite return-form omission.
    July 23, 2026   Case LawsIncome Tax
    Holding period of flat allotment rights runs from reservation, supporting long-term capital gain and indexation on surrender.
    July 23, 2026   Case LawsIncome Tax
    Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
    July 23, 2026   Case LawsIncome Tax
    Bona fide property-sale receipts supported by records may avoid cash-transaction penalties where genuineness and identity are established.
    July 23, 2026   Case LawsIncome Tax
    Satisfactory source evidence for foreign assets prevents their treatment as undisclosed assets and removes consequential Black Money Act penalty.
    July 23, 2026   Case LawsCustoms
    Customs exemption for EOU manufacturing inputs survives excess waste when authorised clearance occurs on payment of applicable duty.
    July 23, 2026   Case LawsCustoms
    Intentional aid is essential for abetment; a Customs House Agent employee need not verify customs-sealed container contents.
    July 23, 2026   Case LawsCustoms
    Bill of entry amendment remains available where loss evidence predates final clearance for home consumption after provisional assessment.
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    July 23, 2026   Case Laws Income Tax
    Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a clean slate.
    July 23, 2026   Case Laws Income Tax
    Statutory bar on probation invalidates release of a person convicted for making a false income-tax return statement.
    July 23, 2026   Case Laws Income Tax
    Ten-year reassessment limitation includes the search assessment year in search cases, rendering notices beyond the period time-barred.
    July 23, 2026   Case Laws Income Tax
    Reasonable cause for inadvertent Form 3CD omissions can prevent penalty where software error and no mala fide intent are shown.
    July 23, 2026   Case Laws Income Tax
    Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years.
    July 23, 2026   Case Laws Income Tax
    Redeveloped flat holding period follows original ownership rights, supporting long-term capital gains, indexed cost and residential-house exemption.
    July 23, 2026   Case Laws Income Tax
    Dependent agent permanent establishment attribution was deleted, while unexamined refund interest required fresh consideration after adequate hearing.
    July 23, 2026   Case Laws Income Tax
    Profit embedded in unaccounted business receipts was taxed at a 1% gross-profit rate; unsupported salary and asset additions failed.
    July 23, 2026   Case Laws Income Tax
    Effective opportunity to explain foreign bank credits required remand for fresh appellate consideration with supporting evidence.
    July 23, 2026   Case Laws Income Tax
    Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded.
    July 23, 2026   Case Laws Income Tax
    Related-party interest deductions require excess over fair market value, while unsupported software and brokerage claims remain disallowable.
    July 23, 2026   Case Laws Income Tax
    Scope of reassessment restricts unrelated additions when the recorded escapement issue is accepted without any addition.
    July 23, 2026   Case Laws Income Tax
    Capital-gains exemption for under-construction flats remains available despite developer delay and may be admitted despite return-form omission.
    July 23, 2026   Case Laws Income Tax
    Holding period of flat allotment rights runs from reservation, supporting long-term capital gain and indexation on surrender.
    July 23, 2026   Case Laws Income Tax
    Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act additions.
    July 23, 2026   Case Laws Income Tax
    Bona fide property-sale receipts supported by records may avoid cash-transaction penalties where genuineness and identity are established.
    July 23, 2026   Case Laws Income Tax
    Satisfactory source evidence for foreign assets prevents their treatment as undisclosed assets and removes consequential Black Money Act penalty.
    July 23, 2026   Case Laws Customs
    Customs exemption for EOU manufacturing inputs survives excess waste when authorised clearance occurs on payment of applicable duty.
    July 23, 2026   Case Laws Customs
    Intentional aid is essential for abetment; a Customs House Agent employee need not verify customs-sealed container contents.
    July 23, 2026   Case Laws Customs
    Bill of entry amendment remains available where loss evidence predates final clearance for home consumption after provisional assessment.

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      Home› Highlights › Income Tax › 2020 › July, 2020 › This
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      Income Tax

      Penalty u/s 271(1)(c) - From the order of ITAT, there is a clear...

      Assessee Liable for Penalty u/s 271(1)(c) of Income Tax Act, Must Challenge Tribunal's Penalty Order If Disagreed.

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      Income TaxJuly 17, 2020Case LawsHC
      Penalty u/s 271(1)(c) - From the order of ITAT, there is a clear finding that the assessee is liable to penalty under Section 271(1)(c) of the Act. Hence, if the assessee was aggrieved, she should have challenged that portion of the order of the Tribunal, which held that the assessee should be liable to penalty.
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