Penalty u/s 271C - Reasonable cause - In the substance of this ...

Income Tax

December 14, 2023

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 allowed deduction of that income and therefore, the effect was tax neutral. Therefore, the reasonable cause for the assessee not to deduct the TDS which although was added in the income of the assessee u/s 40(a)(i) - Since the effect was revenue neutral assessee has not disputed the levy or addition further in the Hon’ble High Court. - Reasonable cause established - No penalty - AT

View Source

← Previous Next →

Penalty u/s 271C - Reasonable cause - In the substance of this ...

Income Tax

December 14, 2023

You may also like:

Penalty u/s 271C - the assessee has proved that there was reasonable cause for failure to deduct tax at source - penalty was righlty set asdide by the tribunal - HC

Penalty u/s 271C – reasonable cause - The assessees are partners in a firm – Both the assessees has paid interest to firm without deducting tax at source - No penalty - AT

Levy of penalty u/s 271D - Cash transaction in connection with violation of section 269SS - reasonable cause - Sale of residential flats to an agriculturist - cash sale...

Penalty u/s 271C - reasonable cause for non deduction of TDS u/s 194H - assessee has reasonable cause for non deduction of tax at source on the discount allowed to the...

Penalty u/s 271C - non deduction of tds - the belief, being a reasonable cause, for non deduction of tax at source in respect of lease rent payment, magnetizes the...

Penalty under Section 271C - non deduction of tds u/s 194A - assessee had not established a reasonable cause, as contemplated in Section 273B to resist an order of...

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...

Penalty u/s 271D - violation of section 269SS - Reasonable Cause u/s 273B - The claim of the assessee is that receipt of money by way of cash itself is a reasonable...

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...

Penalty u/s 271D - accepting loan in cash - reasonable cause - the AO has neither doubted the impugned transaction nor any addition made in this behalf even under...

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...

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...

Penalty u/s 271C - non-deduction of tax at source from the payment of harvesting charges paid to contractors - We are aware that ignorance of law is not an excuse but at...

Penalty u/s Sec. 271C - non deduction of tds on five foreign remittances u/s 195 - there was reasonable cause as envisaged u/s 273B for not deducting tax at source by...

Penalty u/s 271C - failure to deduct TDS u/s 194C on External Development Charges - The High court noted that the applicability of Section 194C had been explicitly...

Quick Updates: