Penalty under section 271 1 b

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August undefined, 2024

WebApr 12, 2024 · Supreme Court Held. The Supreme Court held that section 271C (1) (a) is applicable in case of a failure on the part of the assessee to “deduct” the whole or any part … WebApr 11, 2024 · The question of law on interpretation of Sec 271C was answered in favour of the assessee specifically observing & holding that on mere belated remitting the TDS after deducting the same by the concerned assessee, no penalty shall be leviable u/s 271C. Tags: Section 271C, supreme court judgements, TDS

Penalty u/s 271(1)(b) can not be imposed for non compliance of notice u

WebApr 11, 2024 · 11 April 2024 3:15 AM GMT. The Supreme Court has ruled that no penalty is leviable under Section 271C of the Income Tax Act, 1961 on mere delay in remittance of … WebApr 10, 2024 · It said in the case before it, as the respective assessees remitted the TDS, though belatedly, and it is not case of non-deduction of the TDS at all, they are not liable to pay the penalty... finergreen africa

Penalty u/s. 271(1)(b) not leviable as non-compliance was …

WebOct 28, 2024 · 2.0 The brief facts of the cases are that penalty u/s 271 (1) (b) has been imposed by the Assessing Officers for non-compliance by the assessees with respect to the statutory notices issued under the Act. In the case of Sh. Ashok Nayyar, the penalty levied is of Rs.20,000/-, in the case of Sh. WebThe Additional Commissioner of Income Tax (ACIT) vide order under Section 271-C of IT Act levied a penalty of Rs. 1,10,41,898 equivalent to the amount of TDS deducted for AY 2003-04 due to the ... WebJul 15, 2024 · The penalty levied be quashed. 2. The appellant craves to leave, add/amend or alter any of the above grounds of appeal.”. 2. The only grievance raised in all these … error -5 whilst initialising sd card

Is Section 271 (1) (b) penalty imposable when assessee has …

Income Tax Act, 1961, Section 271(1)(b) Whethee Penalty under …

WebNov 16, 2024 · The penalty is leviable for the underreporting and misreporting at the rate of 50% and 200% of the tax payable in respect of the under-reported income. Therefore, the quantification of tax payable in respect of the under-reported income has been provided in Section 270A (10) to be – 12. Section 270AA – A blessing in disguise WebDec 14, 2024 · > a flat penalty u/s 271 B shall be attracted: 1/2% of total Sales, turnover or gross receipts in business / profession. Or. Sum of Rs. 150,000 (w.e.f.1-4-2011) (prior to … finer grinding of cementWeb271(1)(b) Failure to comply with a notice under section 115WD(2)/115WE(2)/142(1) or section 143(2) or failure to comply with a direction under section 142(2A) Fixed at Rs. … finer grind coffee

"WebNov 29, 2013 · Taxpayer contends that the "deficiency" upon which the fraud penalty is levied by Section 293 ( b) is determined by the definition of "deficiency" contained in … " - Penalty under section 271 1 b

Penalty under section 271 1 b

No penalty shall be leviable under section 271C of IT Act for mere ...

WebWhere a person has filed an application described in paragraph (2) that includes a certification under subsection (b)(2)(A)(iv) or (j)(2)(A)(vii)(IV) of section 505 of the … WebSection 51-1-27 - Recovery for medical malpractice authorized. A person professing to practice surgery or the administering of medicine for compensation must bring to the …

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WebApr 10, 2024 · The Supreme Court Monday held that no penalty shall be leviable under section 271C of the Income Tax Act over mere belated remittance of the tax deducted at … WebApr 14, 2024 · The argument of the Assessee for not levying penalty was that (a) it had made bonafide disclosures and that it did not have the agreement between the parties so that it was not clear as to what was the income for AY 1977-78 and (b) there was no tax effect as assesse had huge brought forward losses.

WebJul 27, 2024 · Levy of penalty u/s 271 (1) (b) was deleted . In Manu Rai (Smt.) v. Dy. CIT (2024)82 ITR 22 (SN) (Indore) (Trib) held that having failed to appear on the initial date of hearing, subsequently complied with the notice issued under S. 142 (1) on subsequent dates. Based on the Compliances the assessments were completed . WebJul 31, 2024 · If you fail to comply with the section’s provisions, it may result in: a) ‘Best judgement assessment’, which means the officer will confirm the assessment and decide the tax liability as he sees fit, or; b) Penalty under …

http://kb.icai.org/pdfs/PDFFile5b4f18e43e2db4.51472745.pdf WebJul 6, 2024 · As regards the penalty for non compliance of notice under section 148, the provisions of section 271 (1) (b) cannot be invoked for non compliance of notice under …

WebThe absence of direction for initiation of penalty proceedings under Section 271(1)(c) in the body of assessment order, cannot even be ratified by issue of notice under Section …

WebApr 11, 2024 · The Assessing Officer in all cases levied penalty either under section 271(1)(b) or under section 272 A(1)(d) with similar reasons. I noted that the provisions of … error 611 password syncWebThe assessee raised the following grounds: Penalty imposed u/s 271 (1) (b) of Rs. 10,000 is bad both on facts and in law. The CIT (A) was wrong in passing the order ex-parte without providing opportunity to the assessee hence the order as framed was not correct error 65 in program_winproc.sad at line 0345WebFeb 25, 2024 · The above notices were also not complied by the assessee. Looking to the noncooperative attitude of assessee and to compel him to comply with the notices issued to him from time to time during the course of assessment proceedings, a show cause … error 63 cannot change the disk layoutWebSection - 273B Penalty not to be imposed in certain cases Section - 158BF Certain interests and penalties not to be levied or imposed Section - 271A Failure to keep, maintain or retain books of account, documents, etc Section - 273A Power to reduce or waive penalty, etc., in certain cases Section - 271AA finer guwahatiWebJul 27, 2024 · Levy of penalty u/s 271(1)(b) was deleted . In Manu Rai (Smt.) v. Dy. CIT (2024)82 ITR 22 (SN)(Indore) (Trib) held that having failed to appear on the initial date of … finer grounds bible studyWebApr 23, 2024 · In cases of under-reporting of income, the penalty is restricted to 50% of the amount of tax payable; b. In case of mis-reporting, the penalty is to be computed at 200% of the amount of tax payable. error 651 windows 7 solutionWebApr 11, 2024 · 11 April 2024 3:15 AM GMT. The Supreme Court has ruled that no penalty is leviable under Section 271C of the Income Tax Act, 1961 on mere delay in remittance of the tax deducted at source (TDS ... finergy holding europe