Functional comparability under TNMM supported exclusion of ITeS comparables with R&D, intangibles, diversified operations, or unavailable segmental da...
Waiver of penalty u/s 234B - Penalty u/s 271C - failure to deduct tds - The software was updated in the subsequent year with the result tax at source on interest income was deducted in the year 2011-12. Once the software was updated, there was no reason for any error in the subsequent year ie. 2012-13 and 2013-14 - No relief from penalty.
Waiver of penalty u/s 234B - Penalty u/s 271C - failure to deduct tds - The software was updated in the subsequent year with the result tax at source on interest income was deducted in the year 2011-12. Once the software was updated, there was no reason for any error in the subsequent year ie. 2012-13 and 2013-14 - No relief from penalty.
Note: It is a system-generated summary and is for quick reference only.
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