S. 271F : Penalty-Return of income-Failure to furnish – Refund return-Penalty is not leviable. [S.139(4), 244A]
S. 271F : Penalty-Return of income-Failure to furnish – Refund return-Penalty is not leviable. [S.139(4), 244A]
S. 271D : Penalty–Takes or accepts any loan or deposit–Gift transactions between husband and wife-Levy of penalty is held to be not valid. [S. 269SS, 269T, 271E, 273B]
S. 271D : Penalty–Takes or accepts any loan or deposit–Money returned to father–Receipt of money from family members for medical emergency–Receipt of money from member of association for building school-Neither loan or advances–Levy of penalty is held to be not justified. [S. 269SS, 273B]
S. 271B : Penalty-Failure to get accounts audited-Not maintaining books of account-Penalty for not getting books audited could not be levied –Penalty for failure to maintain books of account is restricted to Rs. 25000. [S. 44AB, 271A]
S. 271B : Penalty-Failure to get accounts audited–Civil contractor– Failure to keep and maintain books of account-No prescribed format for maintenance of books of account-Levy of penalty is not justified either u/s 271A or u/s 271B of the Act. [S. 44AB, 271A]
S. 271AAB : Penalty-Search initiated on or after Ist day of July 2012-In statement admits undisclosed income and specifies manner in which such income derived-No undisclosed income-Penalty not leviable. [S. 132(4)]
S. 271AAB : Penalty-Search initiated on or after Ist day of July 2012-Concealment–Search and seizure–Undisclosed income-Disallowances cannot automatically lead to penalty–levy of 10% penalty is held to be not valid. [S. 132, 271(1)(c)]
S. 271(1)(c) : Penalty–Concealment-Receipt of additional income not disclosed prior to search-Levy of penalty is justified–AO not sure on which count he intends to levy penalty-Two situations contradictory to each other-Returned and assessed income the Same and revised income accepted-Levy of penalty is not justified. [S. 132, 153A]
S. 271(1)(c) : Penalty–Concealment–Long term capital gains-Search-Addition on account of difference between the rate adopted by assessee and department-levy of penalty is held to be not justified. [S. 132, 139, 153A, 271(1)(c), Expl. 5A, 274].
S. 271(1)(c) : Penalty–Concealment–Vague allegation-Not specifying specific charge-0levy of penalty is not valid. [S. 274]