WebDec 14, 2024 · > a flat penalty u/s 271 B shall be attracted: 1/2% of total Sales, turnover or gross receipts in business / profession. Or. Sum of Rs. 150,000 (w.e.f.1-4-2011) (prior to … WebThe assessee has raised the following grounds of appeal :- That under the facts and circumstances of the case the learned CIT (A) has erred in confirming the action of the learned Assessing Officer in imposing the penalty u/s 271 (1) (c) of the Income Tax Act, 1961 on addition of Rs. 25,52,137/- made u/s 56 (2) (vii) (b) of the Income Tax Act, …

Penalty for failure to get accounts Audited- Section 271B - TaxGuru

WebJul 15, 2024 · The penalty levied be quashed. 2. The appellant craves to leave, add/amend or alter any of the above grounds of appeal.”. 2. The only grievance raised in all these … WebApr 12, 2024 · The Supreme Court held that section 271C (1) (a) is applicable in case of a failure on the part of the assessee to “deduct” the whole or any part of the tax as required under the provisions of the Act. The words used in Section 271C (1) (a) are very clear, and the relevant words used are “fails to deduct.” feign 传递 request header

No Section 271C Penalty on mere belated TDS remittance: SC

WebNov 29, 2013 · Taxpayer contends that the "deficiency" upon which the fraud penalty is levied by Section 293 ( b) is determined by the definition of "deficiency" contained in … Web271(1)(b) Failure to comply with a notice under section 115WD(2)/115WE(2)/142(1) or section 143(2) or failure to comply with a direction under section 142(2A) Fixed at Rs. … WebOct 28, 2024 · 2.0 The brief facts of the cases are that penalty u/s 271 (1) (b) has been imposed by the Assessing Officers for non-compliance by the assessees with respect to the statutory notices issued under the Act. In the case of Sh. Ashok Nayyar, the penalty levied is of Rs.20,000/-, in the case of Sh. define watershed in science