Home Highlights April 2012 Year 2012 This

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1. Penalty levied u/s 221 - default on the part of assessee or deeming the assessee to be an assessee on default - Failure to collect tax u/s 206C while selling timber -...

2. Penalty for Non Quoting of PAN - the assessee does not deserve any lenient view - Assessee is liable for penalty of Rs.10,000/- in each assessment year in dispute - AT

3. Penalty u/s 272B – Wrong quoting of PAN in TDS return - Revised PAN and Revised statement (Form 26G) filed - sufficient compliance with the provisions of section 139A -...

4. Penalty u/s 272B - default in quoting Permanent account number - TDS return - valid/missing PANs have been mad good by filing correct statement well before the issue of...

5. Penalty u/s 271(1)(c) - failure on the part of legal heir of the deceased assessee to explain the source of part of the deposits - The mere failure on the part of the...

6. Penalty u/s 272A (2) (k) - assessee has failed to submit the quarterly TDS statements in Form No. 26Q - The reasonable cause of ignorance of technical knowledge lack of...

7. Penalty under section 272B - not quoting PAN in the appeal filed before the CIT(A) - the default on the part of the assessee was because of her ignorance and not because...

8. Condonation of delay of 349 days in filing the present appeal - when the ld. CIT(A) has decided the appeal of the assessee vide impugned ex-parte order, the delay in...

9. Levy of penalty u/s 271(1)(b) - failure to comply with notices u/s 142(1)/143(2) - it is not mentioned in the penalty order as to for which default of notice penalty has...

10. Penalty u/s 272B of the Act – Failure to comply section 139A - Default in quoting of PAN numbers of the deductees in the e-TDS quarterly statement - There was reasonable...

11. Demand u/s 201(1) - assessee in default - Period of limitation - the limitation prescribed for passing orders under Section 201(1) of the Act deeming a person to be an...

12. Filling of ITR quoting wrong PAN - this complex issue is liable to be examined by the Income Tax Commissioner / respondent No.1 considering the practical problem which...

13. Penalty u/s 271A - non maintenance of books of accounts - not furnishing tax audit report u/s 44AB - The commission being turnover/receipt for the purposes of 44AA and...

14. Default u/s 201(1) - Short deduction of TDS - Non-residents - transaction of sale of property - The assessee cannot be treated as assessee in default u/s 201(1) of the...

15. Penalty U/s 271B - Failure to get accounts audited - Penalty confirmed - AT