Penalty u/s 271C (1) (a) - delayed deposit of the TDS deducted ...

Income Tax

April 1, 2021

Penalty u/s 271C (1) (a) - delayed deposit of the TDS deducted by the assessee - When the non-deduction of the whole or any part of the tax, as required by or under the various instances/provisions of Chapter XVII-B would invite penalty under Clause 271C(1)(a); only to a limited extent, involving sub-section (2) of Sec.115-O(coming under Chapter XIID) or covered by the 'second proviso' to Section 194B (coming under Chapter XVIIB) alone would constitute an instance where penalty can be imposed in terms of Section 271C(1)(b) of the Act. Since there is no obscurity in the above provision, it is not for the Court to read something more into it, contrary to the intent and legislative wisdom, which stands to be a forbidden field for the Court. It is settled law that the rule of 'strict interpretation' is the relevant one in so far as the fiscal statute is concerned. - HC

View Source

← Previous Next →

Penalty u/s 271C (1) (a) - delayed deposit of the TDS deducted ...

Income Tax

April 1, 2021

You may also like:

Levy of penalty u/s 271C - delay in deposit of Tax deducted at source (TDS) - Section 271C(1)(a) shall be applicable in case of a failure on the part of the concerned...

Panelty U/s 271C - Short deduction of TDS - there was sufficient cause for short deduction of tax at source - No penalty in view of Section 273-B - HC

Penalty under section 271C - Only because the assessee before the Tribunal had accepted her liability for deduction of tax at source, cannot be the sole basis for...

Section 194S : TDS on payment on transfer of virtual digital asset - Deduction of Tax at Source (TDS), Collection of Tax at Source (TCS) / Withholding Tax

Penalty for non deduction of tax at source - bona fide belief proved - penalty set aside - AT

Penalty u/s 271C - non deduction of tds - the belief, being a reasonable cause, for non deduction of tax at source in respect of lease rent payment, magnetizes the...

Penalty u/s 271C - non deduction of TDS on interest paid to sister concerns in terms of Section 194A - Levy of penalty confirmed - HC

Penalty u/s 271C – reasonable cause - The assessees are partners in a firm – Both the assessees has paid interest to firm without deducting tax at source - No penalty - AT

Penalty u/s. 271C - short deduction of TDS - Only demurrage charges were paid without any deduction of tax - the said payment was made for delay in lifting the goods and...

Penalty u/s 271C - the assessee has proved that there was reasonable cause for failure to deduct tax at source - penalty was righlty set asdide by the tribunal - HC

Quick Updates: