Levy of interest & Penalty - If the petitioner-Corporation was ...

High Court Rules Corporation Liable for Interest and Penalty on Incorrect 5% Tax Collection u/s 206C of Income Tax Act.

January 21, 2017

Case Laws Income Tax HC

Levy of interest & Penalty - If the petitioner-Corporation was of the view that the provisions of Section 206C of the Income Tax Act were not applicable to the petitioner-Corporation, the Corporation should not have collected the tax at source at 5% - Demand sustained - HC

View Source

← Previous Next →

Levy of interest & Penalty - If the petitioner-Corporation was ...

High Court Rules Corporation Liable for Interest and Penalty on Incorrect 5% Tax Collection u/s 206C of Income Tax Act.

January 21, 2017

Case Laws Income Tax HC

You may also like:

Non-collection of TCS u/s 206C - there is no ambiguity that the seller of forest product is required to collect tax on forest produce. But the “Minor Forest Product” are...

The court interpreted provisions of the Maharashtra Municipal Corporation Act, 1949 and the Maharashtra Municipal Corporation (Local Body Tax) Rules, clarifying the...

Procedure for online submission of statement of deduction of tax under sub-section (3) of section 200 and statement of collection of tax under proviso to sub-section (3)...

This notification amends the Income-tax Rules, 1962, introducing changes related to tax collection at source u/s 206C of the Income-tax Act, 1961. The key amendments...

Income Tax: To facilitate ease of doing business and reduce compliance burden, it is proposed to amend section 197 to bring section 194Q (tax deduction on purchase of...

Imposition of penalty equivalent to duty and interest u/s 114A of Customs Act - The expression used is 'or' which is disjunctive between duty or interest and further use...

Nexus between loans taken from SBH and PNB initially advanced to Nandan Corporation and subsequently transferred Rs. 5 crore from Nandan Corporation to Tripoli...

Upfront collection of tax and penalty - SCN was not issued - whether Sales Tax Officer (STO) can collect upfront tax and penalty from the Petitioner at the time of a...

The key points of the legal judgment by ITAT Delhi are as follows: The case involved the taxability of interest income on FDRs purchased by Uttarakhand Forest...

CBIC clarifies procedure for departmental appeals regarding interest/penalty under Section 128A of CGST Act. Where taxpayers have fully paid tax demands under Section 73...

HC held that respondent Corporation cannot demand GST from petitioners on penalty imposed for non-attendance of leakage complaint as there was no "supply of...

Electronic commerce operators (ECOs) required to pay tax u/s 9(5) of CGST Act for specified services supplied through their platform are not required to reverse...

ECOs liable for tax under Sec 9(5) of WBGST Act are not required to reverse input tax credit on inputs and input services proportionately for specified services supplied...

Enhancement of late fee/penalty levied u/s 70 of FA - only the persons who are liable to pay service tax, have to file the return on time else they are liable to pay...

HC quashed order relating to Input Tax Credit (ITC) claims that were time-barred under Section 16(4) of CGST Act but fell within limitation under Section 16(5)....

Quick Updates: