Income tax penalty u/s 271c

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August undefined, 2024

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. WebSection 271C (1): (a) deduct the whole or any part of the tax as required by or under the provisions of Chapter XVII-B; or. (b) pay the whole or any part of the tax as required by or …

US Technology International Pvt ltd Vs Commissioner of Income-tax …

WebApr 12, 2024 · The Supreme Court (SC) of India has held that mere belated TDS remittance won’t attract a penalty under section 271C of the Income Tax Act, 1961. M/s US Technologies, the appellant challenged the impugned judgment(s) and order(s) passed by the High Court of Kerala at Ernakulam in confirming the levy of interest/penalty under … WebIncome Tax Penalty u/s 271C - failure on the part of the assessee to deduct tax at source - without declaring the assessee as assessee in default under section 201(1) no penalty … cycraft ゲーム

Non-specification of limb of notice render section 271(1)(c) penalty …

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.”. WebPenalty u/s. 271(1)(c): Initiation, Satisfaction & Levy – The Unwritten Mandates Section 271(1)(c) of the Income-tax Act, 1961 prescribes two faults or omissions which exposes … WebApr 12, 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 … cycra graphics

Section 271AAC : Penalty in respect of certain income.

Penalty on Non deduction, late deduction and late deposit of TDS

WebSep 7, 2024 · 3.Penalty u/s 271 (1) (c) of Rs.4,60,000 was levied vide order dated 26/04/2024. 4.On appeal CIT (A) deleted the Penalty on the sole ground taken regarding … 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 … cycraft minecraft serverWebNote : No penalty is imposable for any failure under sections 271 (1) ( b), 271A, 271AA, 271B, 271BA, 271BB, 271C, 271CA, 271D, 271E, 271F, 271FA, 271FAB, 271FB, 271G, 271GA, 271GB, 271H, 271-I, 272A (1) ( c) or ( d ), 272A (2), 272AA (1), 272B, 272BB (1), 272BB (1A), 272BBB (1), 273 (1) (b), 273 (2) (b) and 273 (2) (c) if the person or assessee … cycra front disc cover

"WebOct 16, 2015 · CIT that, penalty U/s 271C is exigible if delay in remittance of TDS is caused due to unreasonable cause. Brief Facts of the Case: The assessee has delayed in … " - Income tax penalty u/s 271c

Income tax penalty u/s 271c

Section 271C Penalty for failure / non-deduction / non-payment of TDS

http://kb.icai.org/pdfs/PDFFile5b4f18e43e2db4.51472745.pdf WebApr 10, 2024 · New Delhi: The Supreme Court Monday held that no penalty shall be leviable under section 271C of the Income Tax Act over mere belated remittance of the tax …

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WebApr 13, 2024 · The Supreme Court in this case was considering whether the appellant was liable for penalty u/s 271C even though there was mere delay in payment as the provisions of Section 271C dealt with penalty for failure to deduct the tax and not delayed payment of tax. The court accepting the arguments of the Appellant’s AR that the penal provisions ... WebApr 13, 2024 · The Supreme Court in this case was considering whether the appellant was liable for penalty u/s 271C even though there was mere delay in payment as the …

WebApr 15, 2024 · The Supreme Court has ruled that no penalty is leviable under Section 271C of the Income Tax Act, 1961 on mere delay in remittance of the tax deducted at source … WebMar 24, 2009 · In fact in the orders passed u/s. 143 (3) of the Income Tax Act, they have been mentioning “Initiate Penalty proceedings u/s. 271 (1) (C) of the I T Act” by default on additions/disallowances done without providing any reasons irrespective of whether the assessee really tried to conceal his income or furnished inaccurate particulars of his …

WebApr 12, 2024 · On 09.10.2003, the Additional Commissioner of Income Tax issued a show cause notice proposing to levy a penalty under Section 271C of the amount equal to TDS. The High Court vide impugned judgment and order has dismissed the appeal preferred by the assessee by holding that failure to deduct/remit the TDS would attract a penalty under … WebPenalty u/s 271C - failure on the part of the assessee to deduct tax at source - without declaring the assessee as assessee in default under section 201 (1) no penalty under section 271C of the Act can be imposed View Source ← Previous Next → F: Transporter issuing builty required to take gst registration?

WebJan 3, 2024 · Assessee had furnished complete details as regards its claim of deduction under Sec. 80IB (4) of the Act, thus merely for the reason that the said claim of deduction … cycra handgaurd graphicsWebApr 11, 2024 · It was held that on true interpretation of Sec 271C, there shall not be any penalty leviable u/s 271C on mere delay in remittance of the TDS after deducting the … cyc rainout line south centralWebApr 10, 2024 · The Supreme Court Monday held that no penalty shall be leviable under section 271C of the Income Tax Act over mere belated remittance of the tax deducted at source (TDS) after its deduction by the assessee concerned. The top court noted that section 271C of the Act deals with penalty for failure to deduct TDS. cycra handguard mountsWebC.Penalty for failure to collect tax at source u/s 271CA Failure to collect the whole or any part of the tax under the provisions of Chapter XVIIBB. Penalty of the sum equal to the amount of tax which was failed to be collected shall be payable . Any penalty imposable under sub-section (1) shall be imposed by the Joint Commissioner. CA Anil Sathe cycra powerflow graphicsWebApr 12, 2024 · The Supreme Court (SC) of India has held that mere belated TDS remittance won’t attract a penalty under section 271C of the Income Tax Act, 1961. M/s US … cycra hcm vs crmWebApr 11, 2024 · 11 April 2024 3:15 AM GMT. The Supreme Court has ruled that no penalty is leviable under Section 271C of the Income Tax Act, 1961 on mere delay in remittance of the tax deducted at source (TDS ... cycra handguard clampsWebApr 15, 2024 · The Supreme Court has ruled that no penalty is leviable under Section 271C of the Income Tax Act, 1961 on mere delay in remittance of the tax deducted at source (TDS) after the same has been deducted by the assessee. The bench of Justices M.R. Shah and C.T. Ravikumar observed that the relevant words used in Section cycra probend crm on africa twin