Case Law Details
Annamalai Bus Transports P Ltd. Vs PCIT (Madras High Court)
Madras High Court addresses penalty proceedings in Annamalai Bus Transports vs. PCIT for AY 2018-19. No cash transaction, emphasizes fair assessment.
Introduction: The Madras High Court dealt with a Writ Petition challenging an order passed by the Principal Chief Income Tax Commissioner (PCIT) directing the petitioner to pay 20% of the disputed demand in penalty proceedings for the Assessment Year 2018-19.
Facts of the Case: The petitioner, Annamalai Bus Transports P Ltd., had filed its return of income for the AY 2018-19, declaring a total income of Rs. 60,909/-. Subsequently, penalty proceedings were initiated under Section 271D of the Income Tax Act against the petitioner.
The petitioner challenged the penalty proceedings through Writ Petitions before the Madras High Court, which set aside the proceedings and remanded them for reconsideration.
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