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Penalty attracted on Bank Interest not disclosed in Return despite non claim of TDS
Case Law Details
- Case Name
- Sanjay S. Shah Vs. DCIT (ITAT Ahemdabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2006- 07
- Courts
- All ITAT, ITAT Ahmedabad
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When assessee fails to receive TDS certificates on interest income from banks in time but decides neither to declare the income in his return nor to take credit for the TDS on the basis of duplicates collected, penalty u/s 271(1)(c) is warranted in such a case
Sanjay S. Shah Vs. DCIT (ITAT Ahemdabad)– The fact that the assessee got credit of TDS u/s 154 proceedings in fact goes against the assessee. When the assessee received TDS in respect of some FDRs, and not in respect of other FDRs as claimed by him, he should have obtained the duplicate certificates and should have filed them wit...
