TMI Blog1998 (10) TMI 103X X X X Extracts X X X X X X X X Extracts X X X X ..... acturing and sale of country liquor as in the past. The return was filed along with an audit report in Form No. 3CB and 3CD. A balance was also filed along with the same. First it was processed under s. 143(1)(a). Then it was taken for scrutiny and notice under s. 143(2) was issued. Assessee s trading results were accepted as the books of account were found intact. Interest under s. 201(1A) was also directed to be charged along with other interest for later payment of TDS while processing the matter under s. 143(3). 3. The matter was agitated before the CIT(A). The CIT(A) dismissed the assessee s appeal holding that there was no convincing argument. It is against this order, the assessee is in appeal before the Tribunal. 4. The learned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee objects to the making of adjustments] or any order of assessment under sub-s. (3) of s. 143 or s. 144, where the assessee objects to the amount of income assessed, or to the amount of tax determined, or to the amount of loss computed, or to the status under which he is assessed; (b) an order of assessment, reassessment or recomputation under s. 147 or s. 150; (c) an order under s. 154 or s. 155 having the effect of enhancing the assessment or reducing a refund or an order refusing to allow the claim made by the assessee under either of the said sections; (d) an order made under s. 163 treating the assessee as the agent of a non-resident; (e) an order under sub-s. (2) or sub-s. (3) of s. 170; (f) an order under s. 171; ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no penalty shall be charged under s. 221 from such person, principal officer or company unless the AO is satisfied that such person or principal officer or company, as the case may be, has without good and sufficient reasons failed to deduct and pay the tax. Sub-s. (1A) stipulates: "Without prejudice to the provisions of sub-s. (1), if any such person, principal officer or company as is referred to in that sub-section does not deduct or after deducting fails to pay the tax as required by or under this Act, he or it shall be liable to pay simple interest at fifteen per cent per annum on the amount of such tax from the date on which such tax was deductible to the date on which such tax is actually paid." From the above it is clear that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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