Income tax penalty u/s 271c
WebFeb 2, 2024 · Applicability of provisions of section 271C of Income Tax Act, 1961. The penalty under section 271C is applicable under the following conditions –. The person fails to deduct, the whole or part of, tax at source (i.e. TDS). The person fails to pay, the whole … WebMar 24, 2009 · In fact in the orders passed u/s. 143(3) of the Income Tax Act, they have been mentioning “Initiate Penalty proceedings u/s. 271(1) (C) of the I T Act” by default on additions/disallowances done without providing any reasons irrespective of whether the assessee really tried to conceal his income or furnished inaccurate particulars of his ...
Income tax penalty u/s 271c
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WebApr 13, 2024 · The Supreme Court in this case was considering whether the appellant was liable for penalty u/s 271C even though there was mere delay in payment as the provisions of Section 271C dealt with penalty for failure to deduct the tax and not delayed payment of tax. The court accepting the arguments of the Appellant’s AR that the penal provisions ... Web3 hours ago · 6. Thus, from the above, it is evident that non-specification of the limb of the notice would render the penalty proceedings invalid. Accordingly, respectfully following the precedent, we set-aside the orders of the authorities below holding that notice u/s 271 (1) (c) is omnibus notice, thus defective which goes to the root of the matter.
WebApr 11, 2024 · The Supreme Court in this case was considering whether the appellant was liable for penalty u/s 271C even though there was mere delay in payment as the provisions of Section 271C dealt with penalty for failure to deduct the tax and not delayed payment of tax. ... 271C and 273B of Income-tax Act,1961: Counsel(s): Counsels : Dowload Pdf File ... WebProvided  that no penalty shall be levied in respect of income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D to the extent such …
WebApr 12, 2024 · Supreme Court Held. The Supreme Court held that section 271C (1) (a) is applicable in case of a failure on the part of the assessee to “deduct” the whole or any part … WebIncome Tax 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 …
WebNote : No penalty is imposable for any failure under sections 271 (1) ( b), 271A, 271AA, 271B, 271BA, 271BB, 271C, 271CA, 271D, 271E, 271F, 271FA, 271FAB , 271FB, 271G, 271GA , 271GB , 271H, 271-I , 272A (1) ( c) or ( d ), 272A (2), 272AA (1), 272B, 272BB (1), 272BB (1A), 272BBB (1), 273 (1) (b), 273 (2) (b) and 273 (2) (c) if the person or …
Web1. confirming penalty of Rs.1,81,00,765 u/s. 271C of I. T. Act, 1961. 2. confirming the above penalty on the ground that the eventhough the appellant had claimed that the parties to whom payments were made had paid the taxes whereever applicable in their individual capacity, the appellant had not submitted any documents in support of the same. port phillip heads weather forecastWebNov 19, 2015 · Indian Income Tax Act, 1961, mandates that a specified percentage of Tax is required to be deducted by the payer at the time of making certain payments to the payee. … port phillip net boatWebIncome Tax - 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 ... port phillip historical societyWeb1 day ago · The case was selected for scrutiny under CASS and a notice under section 143(2) was served on the assessee on 22.09.2016. The Assessing Officer(AO) passed assessment order u/s.143(3) of the Income Tax Act, 1961. 2.1 The AO has levied penalty u/s.271(1)(c) of the Act. Aggrieved by the penalty order the Assessee had filed appeal … port phillip men\u0027s shedWebIncome Tax Penalty u/s 271C - failure on the part of the assessee to deduct tax at source - without declaring the assessee as assessee in default under section 201(1) no penalty … port phillip planning registerWebMar 16, 2009 · 16 March 2009 Please note that penalty under both these sections can not be imposed at the same time. Difference between both these sections are as below: 1. … port phillip planning application registerWebAug 1, 2024 · A penalty is levied under Section 271 (1) (c) of the Income Tax Act, 1961 if the assessee has concealed the particulars of his income or furnishes inaccurate particulars of income. Explanation 1 defines what constitutes concealment of income. port phillip planning scheme