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2015 (1) TMI 424 - HC - Income TaxTDS u/s 192 - Gift coupons were given to employees - perquisites - Penalty u/s 271C - Short deduction of tax - revenue contended that Gift coupons were given to employees for performance of their duty and not as mementos - Held that:- Assessee acted under the bona fide belief that the gift coupons, being in the nature of mementos to commemorate conferment of awards, were not in the nature of payment of salary. The salary of employees comes from the revenue of the PSU and when huge amount of TDS is made from regular salary, we see no reasons as to why, a Central Government PSU, will commit default to pay TDS on such small payment. - no penalty - Decided against Revenue.
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