Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
ITAT, applying the SC precedent, held that where an assessee deducted TDS but remitted it belatedly with interest, penalty under s.271C is not leviable because "failure to deposit" cannot be equated with "failure to deduct." Conversely, where non-deduction under s.194A is alleged, facts must be examined, including claims of financial difficulty and subsequent compliance. The Tribunal set aside the impugned orders and restored the matter to the file of the AO for limited purpose: verification of primary evidence (challans, Form 26Q, ledger extracts and corresponding interest payments) to determine whether deduction occurred and belated remittance followed. Appeal is allowed for statistical purposes.
ITAT, applying the SC precedent, held that where an assessee deducted TDS but remitted it belatedly with interest, penalty under s.271C is not leviable because "failure to deposit" cannot be equated with "failure to deduct." Conversely, where non-deduction under s.194A is alleged, facts must be examined, including claims of financial difficulty and subsequent compliance. The Tribunal set aside the impugned orders and restored the matter to the file of the AO for limited purpose: verification of primary evidence (challans, Form 26Q, ledger extracts and corresponding interest payments) to determine whether deduction occurred and belated remittance followed. Appeal is allowed for statistical purposes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
