07 April 2016
under section 271 (1) (C) Order issued for depositing penalty by IO. 1.Can partial amount(50%) of penalty can be deposited? 2.If we won at ITAT, will penalty will be refunded? 3. Interest will be applied on non remittance of penalty?
08 April 2016
Submit appeal against order of penalty. Apply for stay till decision of appeal, part payment can be done as may be decided by authority. If appeal order is in favor amount paid will be refundable. If penalty is confirm, the dues will attract interest on unpaid amount till date of payment.
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