Tag Archives: Penalty income tax

No penalty u/s 221 be levied for non-payment of self-assessment tax by assessee : Mumbai ITAT

By | February 28, 2018

IN THE ITAT MUMBAI BENCH ‘A’ Heddle Knowledge (P.) Ltd. v. Income Tax Officer, Ward- 8 (1) (4), Mumbai G.S. PANNU, ACCOUNTANT MEMBER AND RAM LAL NEGI, JUDICIAL MEMBER IT APPEAL NO. 7509 (MUM.) OF 2011 [ASSESSMENT YEAR 2009-10] JANUARY  19, 2018 Pavan Ved for the Appellant. Rajesh Kumar Yadav for the Respondent. ORDER G.S. Pannu, Accountant Member – The… Read More »

Disclosure of unaccounted income due to search – No Penalty – Delhi High Court

By | March 16, 2017

Issue For the relevant assessment year 2005-06, Assessee reported its income through a return under Section 139(1) of the Act, declaring an income of Rs.1,72,799/- on 30.12.2005 A search and seizure operation under Section 132(4) of the Act was carried out on 11.01.2007 in the premises of the assessee’s group companies and directors of the… Read More »