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Income Tax - Highlights / Catch Notes

Home Highlights September 2017 Year 2017 This

Penalty u/s 271C - non deduction of TDS on interest paid to ...


High Court Upholds Penalty for Not Deducting TDS on Interest Payments to Sister Concerns u/s 271C.

September 22, 2017

Case Laws     Income Tax     HC

Penalty u/s 271C - non deduction of TDS on interest paid to sister concerns in terms of Section 194A - Levy of penalty confirmed - HC

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  1. Levy of penalty u/s 271C - delay in deposit of Tax deducted at source (TDS) - Section 271C(1)(a) shall be applicable in case of a failure on the part of the concerned...

  2. Interest expenses u/s 36(1)(iii) - Addition of interest component considering that there is no commercial expediency in lending to sister concerns - AR explained the...

  3. Penalty u/s 271C - bonafide belief - Governmental authority itself has demanded not to deduct TDS. In case even if tax was required to be deducted on such payment but...

  4. 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...

  5. Levy of penalty TDS deducted u/s 194C but not deposited - No penalty is leviable on account of failure to deposit TDS u/s 271C(1)(b). Under Section 271C(1)(a)penalty is...

  6. Penalty levied u/s 271C - Non deducting TDS on the LTC payments made towards foreign travel - there is a reasonable cause on the part of the assessee in not deducting...

  7. Penalty u/s 271C - Non deduction of TDS on payment of External Development Charges (EDC) - the issue became debatable if the TDS is to be deducted or not on the EDC...

  8. 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:...

  9. Penalty u/s 271C - assessee did not remit the TDS on the due date - Only because of these hardships there was delay in remitting the TDS. Therefore, there is reasonable...

  10. The Income Tax Appellate Tribunal held that the assessee was not an "assessee in default" for non-deduction of tax deducted at source (TDS) u/s 194A on interest paid on...

  11. The ITAT set aside penalties imposed on the appellant under sections 271C and 272A(2)(g) of the Income Tax Act. Following the Supreme Court's decision in US Technologies...

  12. Interest free loan was advanced to the sister concerned - in the absence of any reference to any business transaction between the assessee and the sister concerns, the...

  13. Tax deduction at source (TDS) u/s 194IA is applicable on the payment made for purchase of immovable property, not on the stamp duty valuation. The provision mandating...

  14. Penalty u/s 271C - non deduction of tds - when the TDS had to be deducted the question whether TDS had to be deducted under Section 194-C or 194-I of the Act was not a...

  15. Interest paid on late payment of TDS - allowable deduction u/s 37(1) or not? - Interest on delayed payment of TDS cannot be allowed as deduction. - The interest...

 

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