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2014 (3) TMI 1136 - AT - Income TaxPenalty u/s. 271(1)(c) - non deduction of tds - Held that:- It was the duty of the payer to deduct TDS. It appears that the payer namely Vodafone Essar Gujarat Ltd. deducted no TDS on interest income of ₹ 23,800/- and due to this mistake, the assessee has not shown this income in the books of accounts. Similarly, due to late receipt of statement and clerical error at accounting method, the assessee has shown less receipt of 1,26,916/- from Vodafone Essar Gujarat Ltd. Prima-facie it appears that both these mistakes are bonafide for which penalty u/s 271(1)(c) is not leviable. Therefore, cancel the penalty of ₹ 23,800/- levied by the AO u/s 271(1)(c) - Decided in favour of assessee.
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