Penalty u/s.140A(3) r.w.s. 221 - assessee failed to pay ...

Penalty for Non-Payment of Self-Assessment Tax Under Income Tax Act Sections 140A(3) and 221 is Discretionary, Not Automatic.

August 27, 2015

Case Laws Income Tax AT

Penalty u/s.140A(3) r.w.s. 221 - assessee failed to pay self-assessment tax - levy of penalty by the u/s.221(1) is discretionary and not automatic. - for levy of penalty u/s. 221 such default must be wilful and not merely accidental. - AT

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Penalty u/s.140A(3) r.w.s. 221 - assessee failed to pay ...

Penalty for Non-Payment of Self-Assessment Tax Under Income Tax Act Sections 140A(3) and 221 is Discretionary, Not Automatic.

August 27, 2015

Case Laws Income Tax AT

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