Income Tax : Amendment in the provisions of section 272A of the Act Section 272A of the Act provides for penalty for failure to answer question...
Income Tax : As we all are aware that the TDS return process will consider as incomplete until the Valid TDS certificate has been issued by the...
Income Tax : The penalty provisions of section 272A of the Income Tax Act covers various penalty like failure to answer the questions or failur...
Income Tax : Due Date for downloading and Penalty for non-compliance: Please be advised that under the provisions of section 203 of the Income...
Income Tax : Nowadays delay in payment of TDS and in TDS return Filing makes an assessee liable to Late Payment Interest, Late Payment Penalty,...
Income Tax : Explore Ambience Developers vs. JCIT case: ITAT Delhi holds no penalty for technical breach under section 272A(2)(k) of the Income...
Income Tax : ITAT Delhi held that disallowance under section 40A(2)(b) of the Income Tax Act on merely estimating that more income should have ...
Income Tax : ITAT Jodhpur held that levying late fees u/s 234E of the Income Tax Act for delay in filing TDS return for 4th quarter of F.Y. 201...
Income Tax : ITAT Mumbai held that penalty under section 272A(1)(c) not warranted as reasonable cause shown for delay in providing the details ...
Income Tax : Understand the landmark case of Maqsood Ali Vs ITO, where the Income Tax Appellate Tribunal (ITAT) in Delhi ruled against imposing...
Explore Ambience Developers vs. JCIT case: ITAT Delhi holds no penalty for technical breach under section 272A(2)(k) of the Income Tax Act. Detailed analysis and key insights.
ITAT Delhi held that disallowance under section 40A(2)(b) of the Income Tax Act on merely estimating that more income should have been earned from sub-contracting without bringing any comparable figures is unsustainable in law.
ITAT Jodhpur held that levying late fees u/s 234E of the Income Tax Act for delay in filing TDS return for 4th quarter of F.Y. 2012-2013 unwarranted as power to levy fees has come into effect only from 01.06.2015
ITAT Mumbai held that penalty under section 272A(1)(c) not warranted as reasonable cause shown for delay in providing the details by the assessee and later in the end, the assessee had shared all the relevant details.
Understand the landmark case of Maqsood Ali Vs ITO, where the Income Tax Appellate Tribunal (ITAT) in Delhi ruled against imposing a penalty under section 272A(1)(d) for non-compliance of statutory notices given reasonable cause.
ITAT Bangalore deleted the penalty imposed under Section 272A(1)(d) of the Income Tax Act in the case of Dhanasingh Nagamuthu vs. ITO. The tribunal found that the assessing officer had not given the assessee a proper opportunity to respond and establish reasons for non-compliance, as required under Section 274(1) of the Act.
ITAT Delhi ruled in favor of appellant, holding that they had indeed complied with statutory notice and therefore levy of penalty under section 272A(1)(d) of the Act was not justifiable
ITAT Pune held that late fees u/s 234E of the Income Tax Act can be levied only prospectively with effect from 01.06.2015.
ITO (TDS) Vs Hadpawat Enterprises (P) Ltd. (ITAT Jodhpur) From a plain reading of second proviso to Section 272A(2) which is inserted by the Finance Act, 2012 w.e.f. 01-07-2012, it is clear that penalty under clause (k) of Section 272(A)(2) cannot be levied on or after the 1st Day of July, 2012. In the instant […]
ITAT Hyderabad held that notices issued under section 200A of the Act for computation and intimation for payment of late filing fees under section 234E of the Act relating to the period of tax deduction prior to 01/06/2015 are not maintainable.
