Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2017 Year 2017 This

Penalty levied on the assessee/Trust under Section 273(2)(a) and ...


High Court Confirms Penalty on Trust for NIL Advance Tax Estimate and Unpaid Self-Assessment Tax u/ss 273 & 140A.

August 7, 2017

Case Laws     Income Tax     HC

Penalty levied on the assessee/Trust under Section 273(2)(a) and under Section 140A(3) - filing NIL estimate of advance tax and nonpayment of the self assessment tax - penalty confirmed - HC

View Source

 


 

You may also like:

  1. Withdrawing the excess tax credit for advance tax and self-assessment tax - Rectification u/s 154 - The assessee has to furnish details of different payments of tax by...

  2. Non-granting interest u/s 244A on excess self-assessment tax from January 2017 to October 2017 was denied, citing the refund was less than 10% of the tax determined in...

  3. Penalty levied u/s 221(1) - the reason for non-payment of self assessment tax was that it was not having liquid funds and all its funds were locked in shares and...

  4. Interest u/s 234 B - Advance tax - Adjustment / Credit for cash as seized - there is no prohibition to adjust the seized cash with self assessment tax. What is...

  5. Voluntary Reporting of Estimated Current Income and Advance Tax Liability - CBDT issues draft notification

  6. Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

  7. Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

  8. HC dismissed petition of charitable trust operating marriage hall challenging GST liability. Trust failed to register under GST Act from July 2017 to January 2020,...

  9. During a 2014 search operation, seized cash adjustment against advance tax liability was denied per Section 132B and Explanation 2. ITAT held that while self-assessment...

  10. This summary concerns an appeal before the Income Tax Appellate Tribunal regarding violations of Sections 11 to 13 of the Income Tax Act by a trust. The key points are:...

  11. Refund of service tax - Unjust enrichment - Period of limitation - Tax paid on self assessment basis - Claim of refund without challenging the assessment, to claim the...

  12. Advance tax payment obligation does not apply when assessee claims agricultural land sale proceeds are exempt u/s 2(14). CIT(Appeals) should admit appeal for...

  13. Levy of penalty u/s 271(1)(c) - The assessee clearly had a bonafide explanation for not adding the unpaid tax liabilities to its income since it was contesting the very...

  14. Levy of penalty u/s 54(1)(2) of the U.P. VAT Act, 2008 - men-rea - The Court concluded that mens rea is indeed an essential prerequisite for imposing a penalty under...

  15. Assessment of trust as Association of Persons (AOP) - family trust - rate of tax - maximum marginal rate or slab rates - Assessee family trust has only income from other...

 

Quick Updates:Latest Updates