S .43 : Penalty-Furnishing inaccurate particulars of income-Black money-Information received from investigation wing-Foreign bank account-Search and Seizure-Non-disclosure of account inadvertent mistake-Not a case of diversion of unaccounted Indian wealth to undisclosed foreign bank accounts-Penalty cannot be levied. [S. 2(11), 60]
S. 275 : Penalty-Bar of limitation-From the date of initiation of penalty proceedings by the competent authority-Penalty order is not barred by limitation-Penalty deleted on merits [S. 269SS, 269T, 271D, 271E, 275(1)(c)]
S. 271D : Penalty-Takes or accepts any loan or deposit-Cash payment to wife-Sale consideration-Levy of penalty is not justified [S. 269SS, 271E]
S. 271D : Penalty-Takes or accepts any loan or deposit-Limitation–Action for imposition of penalty initiated by notice-Time for passing of penalty order to be reckoned from that date of initiation-Order is barred by limitation. [S. 271E, 275(1)(c)]
S. 271D : Penalty-Takes or accepts any loan or deposit-Non-Resident-50 Per Cent of interest in property-Sale consideration disclosed in the sale deed-No intention to evade the tax-Reasonable cause-Penalty cancelled. [S. 269SS, 273]
S. 271D : Penalty-Takes or accepts any loan or deposit-Annulment of assessment-Cancellation of penalty is not valid. [S. 143(3),271E]
S. 271D : Penalty-Takes or accepts any loan or deposit-Limitation-Two specific periods of limitation-End of financial year in which assessment proceedings completed, or six months from end of month in action for imposition of penalty initiated, whichever is later-Penalty order is barred by limitation. [S. 269SS, 273B, 275 (1)(c)]
S. 271C : Penalty-Failure to deduct at source-Purchase of immovable property-Reasonable cause-Not aware of the provision-Penalty was deleted.[S.194IA, 273B]
S. 271C : Penalty-Failure to deduct at source-Deduction and deposit of tax in subsequent year after receipt of invoices-No Tax evasion or loss of revenue-Penalty not leviable [S.40(a)(ia), 273B, 274]
S. 271C : Penalty-Failure to deduct at source-External development charges paid to the Haryana Urban Development Authority-Levy of penalty was deleted.