Case Law Details
Case Name : US Technologies International Pvt. Ltd. Vs CIT (Supreme Court of India)
Related Assessment Year : 2003-04
Courts :
Supreme Court of India
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US Technologies International Pvt. Ltd. Vs CIT (Supreme Court of India)
BELATED REMITTANCE OF THE TDS AFTER DEDUCTING THE TDS WHETHER SUCH AN ASSESSEE IS LIABLE TO PAY PENALTY U/S 271C
The Apex Court decision is on appeal against order passed by the High Court of Kerala confirming the levy of interest/penalty under Section 271C.
In this case, ITO had levied penal interest u/s 201(1A) for the belated remittance of the TDS. Addl CIT had levied penalty u/s 271C ( amount equal to TDS ) and the said penalty order came to be confirmed by the Kerala High Court.
At the very outset it is to be noted t...
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Author Bio
One should not get carried away that since penalty itself is not leviable, prosecution can not be initiated. This is a case where the Act doesn’t provide for the penalty. Prosecution provsions DO APPPLY. In fact para 7.7 of the decision is emphatic.