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Penalty for Concealment of income u/s 271C ::

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Court :
HC

Brief :
Held by the court that the assessee was in confusion regarding percentage to be deducted from the different classess of customers. On being clarified,the assessee has deducted the remaining amount and deposited the same therefore it does not amount to concealment on part of assessee

Citation :
Penalty for Concealment of income u/s 271C C.I.T. Vs. Senior Accounts Officer, Madhya Pradesh

Penalty for Concealment of income u/s 271C C.I.T. Vs. Senior Accounts Officer, Madhya Pradesh Electricity Board 9/12/2004 (2005) 276 ITR 84 (Madhya Pradesh) Case Fact: Whether the penalty u/s271C should be lmposed on the Government assessee for failure for deducting less amount of TDS. Decision: Held by the court that the assessee was in confusion regarding percentage to be deducted from the different classess of customers. On being clarified,the assessee has deducted the remaining amount and deposited the same therefore it does not amount to concealment on part of assessee
 

CA.Saibaburao Nanduri
on 07 September 2007
Published in Income Tax
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