Appeal allowed: Domestic service payments excluded from transaction value under Valuation Rules; CKD subassemblies deemed non-motor vehicles, get conc...
HC upholds conviction of the Respondent for charge under s.276B IT Act for failing to deposit TDS deducted during FY 2012-13, the trial court (ACMM) having found delays of 4-15 months proved by documentary evidence and not disputed. The court rejects the Respondent's s.278AA defence for reasonable cause, observing the onus to prove financial incapacity was not discharged: no corroborative witnesses or financial records were produced and a bare assertion in the s.313 statement was insufficient. The HC sets aside the ASJ's contrary order, affirms guilt, but modifies sentence - replacing the fine of Rs.25 lakh with admonition given deposit of tax with interest and ongoing liquidation.
HC upholds conviction of the Respondent for charge under s.276B IT Act for failing to deposit TDS deducted during FY 2012-13, the trial court (ACMM) having found delays of 4-15 months proved by documentary evidence and not disputed. The court rejects the Respondent's s.278AA defence for reasonable cause, observing the onus to prove financial incapacity was not discharged: no corroborative witnesses or financial records were produced and a bare assertion in the s.313 statement was insufficient. The HC sets aside the ASJ's contrary order, affirms guilt, but modifies sentence - replacing the fine of Rs.25 lakh with admonition given deposit of tax with interest and ongoing liquidation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4823 
Join Channel 
