Penalty imposed u/s 221(1) r.w.s. 140A(3) - non-payment of ...

Income Tax

March 26, 2020

Penalty imposed u/s 221(1) r.w.s. 140A(3) - non-payment of self-assessment tax - Return of Income as filed u/s 139(1) itself was declared an invalid Return - scope of Sec.140A(3) - without there being any requisite corresponding amendment to Sec. 221 of the Act in consonance with the amendments carried out in Sec. 140A(3) of the Act w.e.f. 01.04.1989, the Assessing Officer erred in levying the impugned penalty.

View Source

← Previous Next →

Penalty imposed u/s 221(1) r.w.s. 140A(3) - non-payment of ...

Income Tax

March 26, 2020

You may also like:

Penalty u/s 221 r.w.s. 140A - default of non-payment of taxes on due date - Provisions of Section 140A (3) can apply only when there is a self-assessment tax payable...

Penalty imposed u/s 221(1) r.w.s. 140A(3) - non-payment of self-assessment tax - without there being any requisite corresponding amendment to Sec. 221 in consonance with...

Penalty levied on the assessee/Trust under Section 273(2)(a) and under Section 140A(3) - filing NIL estimate of advance tax and nonpayment of the self assessment tax -...

Penalty imposed u/s. 221 r.w.s. 140A(3) - no self assessment tax was paid - the assessee shall not cease to be liable to any penalty under sub-section (1) of section 221...

Penalty u/s 221(1) - outstanding demand on account of self assessment tax -the penalty imposed at 10% of the outstanding demand for both the assessment years u/s 221(1)...

Penalty levied u/s 221(1) - delay in payment of self assessment tax u/s 140A - assessee had filed its return of income on 30.09.2010 without payment of taxes - due date...

Penalty u/s 221(1) can be levied for non-payment of self-assessment tax u/s 140A at the time of filing an income tax return, even if the tax has been paid by revising the return.

Penalty u/s.140A(3) r.w.s. 221 - assessee failed to pay self-assessment tax - levy of penalty by the u/s.221(1) is discretionary and not automatic. - for levy of...

Penalty u/s 140A(3) r.w. Section 221 – The assessee on account of having incurred heavy losses in share trading was not in a position to make payment of self-assessment...

Penalty u/s 221(1) - default in paying Self Assessment tax u/s 140A - was passing through severe financial hardships during the above period which is a sufficient and...

Quick Updates: