Liability of representative assessee under section 161

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This query is : Resolved

Lakshmish Kant (Querist)

26 January 2014 (1) Assessment Year 2011-12
(2) Assessment completed under Section
143(3) of the Act.
(3) Assessee was assessed as Representative
Assessee (Section 160 of the Act)for
Capital Gain Income of her Majour
Daughter who is NRI and the Property
was sold in India by her Mother (the
assessee)through a Special Power of
Attorney executed by her Daughter.
(4) The Representative Assessee (mother) is
ready to pay Tax on the said capital
Gain.
(5) But what about Penalty under Section
271(1)(c) of the Act.
(6) Whether the Representative Assessee is
liable to pay Penalty also.
(7) Section 161 of the Act, speaks for
"TAX" only and not about any "PENLTY".
(8) Also, Tax does not includes the Penalty
but includes Interest only.
Please reply with Case Laws.

With Thanks
CA. LAKSHMISH KANT
9268829820
ishassociates@gmail.com

CA SAYANTAN BASU

CA SAYANTAN BASU (Expert)

15 February 2014 Dear sir ,
As per records , the penalty will not be imposed on representative assessee but it should be imposed on the assessee itself ..... So in ur case if the penalty is arising then it should be imposed on assessee but not on representative assessee .....

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