Penalty levied u/s 271C - bonafide belief - reasonable cause - ...

Penalty Waived: Bona Fide Belief and Reasonable Cause Exempt Assessee from TDS Penalty u/s 271C.

October 14, 2023

Case Laws Income Tax AT

Penalty levied u/s 271C - bonafide belief - reasonable cause - failure to deduct the tax at source (TDS) - By the time the assessee was under obligation to deduct tax at source for the AYS under consideration, there were judgments in favour of assessee - penalty is not imposable u/s 271C - AT

View Source

← Previous Next →

Penalty levied u/s 271C - bonafide belief - reasonable cause - ...

Penalty Waived: Bona Fide Belief and Reasonable Cause Exempt Assessee from TDS Penalty u/s 271C.

October 14, 2023

Case Laws Income Tax AT

You may also like:

The assessee failed to file the original return of income, and the Assessing Officer initiated penalty proceedings for underreporting income. The assessee's authorized...

Penalty u/s 271B was levied on the assessee for failure to get accounts audited despite turnover exceeding prescribed limit u/s 44AB. The Assessing Officer relied solely...

HC upheld ITAT's ruling against penalty under s.271C, accepting assessee's reasonable cause defense for TDS non-deduction. Assessee's reliance on legal opinions from...

Penalty for non deduction of tax at source - bona fide belief proved - penalty set aside - AT

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 - 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...

TDS u/s 192 - non deduction of TDS on Cash medical benefit to employees - treating the assessee as, “assessee in default" - time limit for issue of notice u/s 201 - the...

The Income Tax Appellate Tribunal ruled that non-deduction of TDS on directors' fees and transaction charges u/s 194J was not liable for penalty u/s 271C. It accepted...

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 - failure to deduct tax (TDS) - In case the assessee is in a genuine and bona fide belief that it was not under obligation to deduct tax penalty u/s....

Assessee sold ancestral agricultural property for cash consideration to relatives, agriculturists. Though agricultural land sale proceeds exempt u/s 2(14), assessee bona...

Penalty u/s.271B - Failure to get accounts audited - reasonable cause - assessee was under a bona fide belief that the commission income for the year under consideration...

The assessee delayed filing the TDS statement, leading to late fees u/s 234E. The Assessing Officer issued an order u/s 200A regarding the late filing. The assessee...

The ITAT deleted the penalty imposed under s.271C for short deduction of TDS on LFC reimbursements to employees. The Tribunal found that the assessee, a public sector...

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...

Quick Updates: