S. 271(1)(c) : Penalty-Concealment-AO should have asked assessee to show cause in assessment proceedings, no enquiry or evidence that there was concealment of income-Further factual analysis of claim of loss not made, notice not specifying under which limb of section notice issued, Penalty not sustainable.

S. 271(1)(c) : Penalty-Concealment-Reassessment-The return filed in response to section 148 of the Act is accepted-No penalty can be levied. Observation of the AO must be specific and penalty cannot be levied for non-filing of original return u/s 139(1) [S. 139(1),148]

S. 271(1)(c): Penalty-Concealment—If directions of Tribunal given effect by Assessing Officer basis Transfer Pricing Adjustments would not survive-Levy of penalty is not valid. [S. 92C, 92CA (3), 271C]

S. 271(1)(c) : Penalty-Concealment-Quantum addition stood deleted by Tribunal there remained no basis for levy of penalty under section 271(1)(c)

271(1)(c): Penalty-Concealment-AO did not struck off irrelevant portion-Show cause notice not specifying limb of Section 271(1)(c) is defective-Penalty proceeding is quashed.[S. 274]

S. 271(1)(c): Penalty-Concealment-Bogus purchases-Information from Sales Tax Department regarding bogus purchases made by assessee-Ad-hoc addition-Estimate basis-Penalty is deleted.[S.69C]

S. 271(1)(c) : Penalty-Concealment-Domain name-Appeal pending before High Court-Debatable-Penalty is set aside-DTAA-India-USA [S. 9(1)(vi),r.w.s. 115A, Art. 12] penalty set aside.

S. 271(1)(c): Penalty-Concealment-Additions during reassessment-Reasons recorded for reopening assessment and additions made on different grounds. A.O. failed to prove that assessee concealed income or furnished inaccurate particulars of income-Additions deleted-Penalty deleted.

S. 271(1)(c) : Penalty-Concealment-Capital gains-Denial of special deduction claimed against income from long term capital gain-No business income shown-High court decision in favour-Tribunal Denying Deductions On Basis Of Later Supreme Court Ruling-Deduction admissible-Not a case of furnishing inaccurate particular-Penalty not leviable. [S.45 8oG 80HHC 112(2)]

S. 271D : Penalty-Takes or accepts any loan or deposit-Long term capital gains-Received cash on sale of immovable property in AY 2016-17-Deposited cash during demonetisation period-Levied penalty for contravention of S. 269SS-Deleted penalty as S. 269SS was violated in AY 2016-17 and not in AY. 2017-18.[S. 45, 269SS]