Social Media Ideas for Finance Act 2016 Penalty Provisions

No Tax, No Penalty: ITAT Mumbai Draws the Line on Section 270A Penalties for Charitable Trusts

No Tax, No Penalty: ITAT Mumbai Draws the Line on Section 270A Penalties for Charitable Trusts   The introduction of Section 270A of the Income-tax Act marked a significant shift i...

Inland Revenue fines careless taxpayers $16.5m as penalties double

One taxpayer wiped out $3.8m in potential fines simply by making a voluntary disclosure before audit activity began

Can Penalty Under Section 271(1)(c) Be Levied on Estimated Bogus Purchase Additions? ITAT Says No

Can Penalty Under Section 271(1)(c) Be Levied on Estimated Bogus Purchase Additions? ITAT Says No   Estimated Additions Cannot Automatically Lead to Penalty for Concealment or Furn...

Rs 30L salary, missed ITR after job switch; why ITAT cancelled Rs 3.74 lakh penalty

What appeared to be a filing lapse eventually turned into a tax penalty of Rs 3.74 lakh. The Income Tax Department took a strict view of the matter, maintaining that had the non-fi...

New HMRC powers to penalise landlord tax reporting errors

Landlords face new penalties for uncorrected tax reporting errors under legislation set to take effect in April 2027, according to provisions in the Finance Bill 2027. HMRC recover...

Form 16 delay led to ITR non-filing and ₹3.74 lakh penalty: How a salaried employee won his case

A salaried employee’s failure to file his ITR after switching jobs led to a ₹3.74 lakh penalty, even though the TDS deducted by his employers was reflected in Form 26AS. ITAT Delhi...

Failure to Initiate Section 270A Penalty Cannot Alone Justify Section 263 Revision: ITAT Ahmedabad

Failure to Initiate Section 270A Penalty Cannot Alone Justify Section 263 Revision: ITAT Ahmedabad   PCIT cannot revise an assessment merely because AO did not initiate penalty pro...

Latest Tax Updates- IRS Launches Automatic Penalty Relief Program and Court Invalidates GILTI Rule

SHA Warns Kenyans of Penalties for Late Payments

The warning follows a recent SHA notice imposing a monthly penalty on employers who delay remitting employee contributions.

ITR Deadline 31 August 2026: Points to remember-

ITR Deadline 31 August 2026: Points to remember-     31st August is not an extension of due date. The Finance Act, 2026 has substituted Explanation 2 to Section 139(1) with effect...

Delhi HC Cancels Tax Penalty U/S 271(1)(c) Due to Defective Notice

The Delhi High Court has mentioned that a penalty levied under section 271(1)(c) of the Income Tax Act, 1961, cannot be sustained if the notice issued to the taxpayer did not menti...

Wrong Political Donation Claim Doesn’t Automatically Mean 200% Penalty: Ahmedabad ITAT Cancels Penalty Under Section 270...

Wrong Political Donation Claim Doesn’t Automatically Mean 200% Penalty: Ahmedabad ITAT Cancels Penalty Under Section 270A Keywords: Section 270A penalty, bogus political donation,...

Centre brings amnesty scheme for PF Trusts to regularise their status

Recognition under the Income Tax Act, 2025 shall be available only to provident funds that have obtained exemption under Section 17 of the 1952 Act

Delhi ITAT Deletes Tax Penalty on Salaried Person for Failing to File ITR Even With ₹30 Lakh Income

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) removed the penalty of Rs. 3,74,072 levied on a salaried employee who had not submitted his original ITR despite earning...

Procedural Lapse Cannot Defeat Substantive Tax Benefit: Telangana High Court Restores Section 115BAA Benefit Despite Del...

Procedural Lapse Cannot Defeat Substantive Tax Benefit: Telangana High Court Restores Section 115BAA Benefit Despite Delay in Filing Form 10-IC   A Landmark Judgment on “Genuine Ha...

Misclassified Tax Cannot Become A Lawful Levy: Limitation Cannot Validate An Unauthorised Tax Collection

Introduction The question of whether the Government can retain an amount collected as tax despite the absence of a lawful statutory liability has repeatedly arisen under the erstwh...

ROC Kolkata I Imposes ₹20,000 Penalty on Artistery House and Director for Wrong AOC-4 XBRL Filing

The Registrar of Companies (ROC), Kolkata-I, has levied a total penalty of Rs 20,000 on Artistery House Private Limited and its Certifying Director, Ashok Kumar Jain, for breach of...

Finance Act 2026 Cannot Revive Invalid Reassessment Notices: Telangana High Court Upholds ITAT Order

Finance Act 2026 Cannot Revive Invalid Reassessment Notices: Telangana High Court Upholds ITAT Order Keywords: Finance Act 2026 reassessment, JAO reassessment notice, Faceless Asse...

Delhi HC Defers Decision on GST Penalty for Non-Taxable Persons Under Section 122(1) Pending SC Proceedings

In a significant legal development regarding GST penalties, the Delhi High Court has recently declined to pass a ruling on whether penalties under Section 122(1) of the Central Goo...

MGT-7 Filing Error: ROC Imposes Penalty on Maharaja Polyfab Ltd. U/S 450

The Registrar of Companies (ROC) in Cuttack has imposed fines on the authorised signatory and the Company Secretary of Maharaja Polyfab Limited, an Odisha-based company that manufa...

Tabung Haji Act amendments to introduce tougher financial reporting rules, penalties

 KUALA LUMPUR, Aug 11 — Clearer legal provisions, including prescribed accounting standards and penalties for...

Reevaluating the Section 163(j) Interest Expense Limitation: Technical Insights from IRS Fact Sheet FS-2026-14

IRS Fact Sheet FS-2026-14 (Aug. 19, 2026); Internal Revenue News Release IR-2026-94 (Aug. 19, 2026) On August 19, 2026, the Internal Revenue Service (IRS) released Fact Sheet...

What businesses need to know about the Finance Bill 2026-27

The post What businesses need to know about the Finance Bill 2026-27 appeared first on LLP Site.

Reckless tax statements: How could an honest mistake become criminal?

In June 2026, the Government published a document to gather views on the introduction of a criminal offence for making reckless or untrue statements relating to tax. The Institute...