Penalty levied u/s 221(1) - the reason for non-payment of self ...

Penalty u/s 221(1) Reduced for Non-Payment Due to Lack of Liquid Funds, Lowered from 5% to 2.5.

June 16, 2015

Case Laws Income Tax AT

Penalty levied u/s 221(1) - the reason for non-payment of self assessment tax was that it was not having liquid funds and all its funds were locked in shares and securities - penalty @ 5% of self assessment tax is on higher side - Reduced to 2.5% of self assessment tax - AT

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Penalty levied u/s 221(1) - the reason for non-payment of self ...

Penalty u/s 221(1) Reduced for Non-Payment Due to Lack of Liquid Funds, Lowered from 5% to 2.5.

June 16, 2015

Case Laws Income Tax AT

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