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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to income-tax section 439 adds withholding income and exempts income from penalty where additional tax is paid.</h1> The amendment inserts income covered by section 195(1)(b) into the list of incomes in section 439(11), thereby expressly bringing withholding income within the scope of that provision. It further adds a new subsection (13A) providing that where additional income-tax is paid under section 267(5)(ii), the income on which such additional tax is paid shall not serve as the basis for imposing a penalty under section 439. The effect is to clarify that specified withholding income is included within section 439 and to exempt income from penalty if additional tax has been discharged under the cited provision.
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