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Financial stringency not justify non-remittance of TDS – Penalty Justified
Case Law Details
- Case Name
- KBR Infratch Ltd. Vs. ACIT (Karnataka High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All High Courts, Karnataka High Court
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KBR Infratch Ltd. Vs. Asst. CIT (Karnataka High Court)
We find from the order of tribunal that the finding recorded by the tribunal to arrive at a conclusion is based on sound appreciation of material available before it. In fact, a clear finding has been recorded by the tribunal that question of financial stringency pleaded by assessee was not proved. Even otherwise, it has been held that financial stringency would not justify the non-remittance of TDS to the Government, in as much as, it would amount to utilization of money payable to the appropriate government. As such, by extending its b...
