Penalty u/s Sec. 271C - non deduction of tds on five foreign ...

No Penalty for Assessee: Reasonable Cause Found for Not Deducting Tax on Foreign Remittances u/ss 271C and 273B.

January 19, 2016

Case Laws Income Tax AT

Penalty u/s Sec. 271C - non deduction of tds on five foreign remittances u/s 195 - there was reasonable cause as envisaged u/s 273B for not deducting tax at source by the assessee on the aforesaid payments, and therefore, the assessee was not liable for levy of penalty u/s 271C - AT

View Source

← Previous Next →

Penalty u/s Sec. 271C - non deduction of tds on five foreign ...

No Penalty for Assessee: Reasonable Cause Found for Not Deducting Tax on Foreign Remittances u/ss 271C and 273B.

January 19, 2016

Case Laws Income Tax AT

You may also like:

The assessee had not obtained and furnished the Audit Report from the Accountant within the due date. The Tribunal held that the levy of penalty u/s 271B is not...

Penalty u/s 271C - Reasonable cause - In the substance of this case after the decision of ITAT, the disallowance was sustained but at the same time the assessee was...

Penalty u/s 271C – reasonable cause - The assessees are partners in a firm – Both the assessees has paid interest to firm without deducting tax at source - No penalty - AT

The case pertains to the levy of interest u/s 234C for failure on the part of the payer to deduct tax deducted at source (TDS) u/ss 196D and 194LD. The key points are:...

Penalty levied u/s 271G - Assessee has failed to maintain the information as per Rule 10D (1) (d), (g), (h) and (m) of Income Tax Rules - ‘reaso-nable cause’ under...

TDS @ 20% on the foreign remittance u/s 206AA - absence of furnishing of Permanent Account Number (PAN) - Section 206AA of the Act does not override the provision of...

Dispute regarding non-payment/short payment of service tax, tax demand and interest u/ss 73(2) and 75, penalties u/ss 77 and 78 of the Finance Act, 1994, and extended...

Penalty u/s 271C - the assessee has proved that there was reasonable cause for failure to deduct tax at source - penalty was righlty set asdide by the tribunal - HC

Penalty levied u/s 271C - Failure to deduct TDS u/s 192 on reimbursement of Leave Fare Concession (LFC) claim, to the extent of foreign leg of travel of 12 employees of...

Penalty u/s 272A (2) (k) - assessee has failed to submit the quarterly TDS statements in Form No. 26Q - The reasonable cause of ignorance of technical knowledge lack of...

Penalty u/s 271C - non-remittance of TDS deducted to the Government account - assessee has not given any satisfactory explanation either before the AO nor before the...

Penalty u/s 271C - assessee had failed to deduct TDS on interest paid on FDRs and to deposit the same - the assessee is found to have had reasonable cause for not...

Levy of penalties u/ss 122 and 129 of CGST/SGST Acts - expiry of e-way bill - mens rea in penalty imposition. Technically, violation of law by petitioner in transporting...

Assessee's appeal allowed by ITAT against penalty u/s 271B for non-compliance with Section 44AB. Assessee demonstrated reasonable cause for failure to file return and...

Penalties levied u/ss 271D and 271E were challenged. The assessee was found to have violated Sections 269SS and 269T. However, there was no concrete finding that the...

Quick Updates: