WebMar 16, 2009 · 1. Penalty u/s 221 is imposed by AO while by Joint Comm. u/s 271C. 2. Section 221 comes into play only when there is a defaul in payment while 271C comes … WebApr 12, 2024 · Supreme Court Held. The Supreme Court held that section 271C (1) (a) is applicable in case of a failure on the part of the assessee to “deduct” the whole or any part of the tax as required under the provisions of the Act. The words used in Section 271C (1) (a) are very clear, and the relevant words used are “fails to deduct.”.
Mere belated TDS Remittance won
WebApr 10, 2024 · The Hon’ble Supreme Court opined that on true interpretation of Section 271C, there shall not be any penalty u/s 271C on mere delay in remittance of the TDS after … Web3 hours ago · 6. Thus, from the above, it is evident that non-specification of the limb of the notice would render the penalty proceedings invalid. Accordingly, respectfully following the precedent, we set-aside the orders of the authorities below holding that notice u/s 271 (1) (c) is omnibus notice, thus defective which goes to the root of the matter. highest quality mini dvr hdmi
Mere Delay In Remittance Of TDS Doesn’t Attract Penalty Under S 271C …
The penalty under section 271C is applicable under the following conditions – 1. The person fails to deduct, the whole or part of, tax at source (i.e. TDS). 2. The person fails to pay, the whole or part of, Dividend Distribution … See more In case of default, the penalty under section 271Cis leviable to the extent of an amount equal to TDS not deducted / not paid. See more Q 1. What is Chapter XVIIB? Ans:Chapter XVII of the Income Tax Act covers provisions relating to ‘Collection and recovery of tax’. Part B of Chapter XVII (i.e. Chapter XVIIB) covers … See more WebApr 10, 2024 · On 02.06.2003, Income Tax Officer (ITO) vide order under Section 201(1A) of the Act, 1961 levied penal interest of Rs. 4,97,920/for the period of delay in remittance of TDS. On 09.10.2003, the Additional Commissioner of Income Tax issued a show cause notice proposing to levy penalty under Section 271C of the amount equal to TDS. Web1 day ago · The case was selected for scrutiny under CASS and a notice under section 143(2) was served on the assessee on 22.09.2016. The Assessing Officer(AO) passed assessment order u/s.143(3) of the Income Tax Act, 1961. 2.1 The AO has levied penalty u/s.271(1)(c) of the Act. Aggrieved by the penalty order the Assessee had filed appeal … highest quality output for lcd