Prosecution under section 276b

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shrishail (Querist)
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20 December 2013 Dear sir,

We are a sick company registered under Sick Industrial Companies (Special Provisions) Act 1985. Due to financial crisis we had paid TDS amount (F.Y. 2008-09)but not within stipulated time mentioned in the Income Tax act. Now the Income tax department issued a show cause notice as to why prosecution u/s 276B of Income Tax Act.

Can anybody guide me how we can escape from this matter.
Can give me reference cases regarding this to enable me to refer.

Thanks
Shrishail

Nikhil Kaushik

Nikhil Kaushik (Expert)
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23 December 2013 the 276B prosecution is not against the company but against the person responsible for deduction of TDS.

you may refer to http://www.bcasonline.org/articles/artin.asp?1064

and http://www.cadkg.in/income-tax/118-prosecution-us-276b-for-defaults-of-tds.html

this should help.

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