Home Highlights October 2012 Year 2012 This

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1. 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 -...

2. 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...

3. Transfer of PANs Of Non-Resident Assessees - Order-Instruction

4. Rate of TDS - Non-availability of PAN - Benefit of treaty - in case of payments made to non-residents, the assessee was entitled to deduct taxes at source at the rates...

5. Default for the failure on the part of the assessee to quote correct PAN in terms of provisions of section 139A - penalty waived - AT

6. Reopening proceedings against deceased assessee - proceedings against legal representatives of the deceased assessee - The High court observed that the legal...

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

8. TDS - non availability of PAN - @ 20% OR 10% - Since the mistake of quoting wrong PAN has been rectified in the revised TDS return filed by the assessee which has been...

9. Penalty u/s 271(1)(c) - non-compliance on the part of the assessee of various notices issued - information which was required for completing the assessment was already...

10. Imposition of penalty equivalent to duty and interest u/s 114A of Customs Act - The expression used is 'or' which is disjunctive between duty or interest and further use...

11. TDS u/s 194A - assessee in default for non-deduction of TDS - Onus upon the assessee to furnish the CA certificates that the payee has paid necessary taxes on income...

12. Penalty u/s. 271(1)(b) - Non response to notice issued in assessment proceedings - non response has already led to addition of the entire amount and the very purpose of...

13. 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...

14. Rate of deduction of tax in the case of a non-resident who does not have a PAN - DTAA between India and Netherlands - It is not in dispute that assessee has not deducted...

15. All importers / Exporters need to have fresh IEC code which will be same as PAN - Assessee registered with GSTN would be required to quote only GSTIN while import or...