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Income Tax - Highlights / Catch Notes

Home Highlights July 2015 Year 2015 This

Interest payable by assessee on short payment of advance tax - ...

Income Tax

July 13, 2015

Interest payable by assessee on short payment of advance tax - The bona-fides of the assessee in estimating his income and paying the advance tax accordingly are relevant factors and if established fall within the ambit of Section 215(4) read with Rule 40(5). - HC

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  3. Interest on short payment of advance tax – failure on the part of payer to deduct TDS u/s 195(2) - no interest u/s 234B - AT

  4. Winding up of company - Dues not paid - winding up petition is not a legitimate means of seeking to enforce payment of the debt which is bona fide disputed by the company - HC

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  10. The submission that, non-payment of advance tax was on account of circumstances beyond the control of the assessee and for a reasonable cause, would not warrant deletion...

 

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