Penalty u/s 221
This query is : Resolved
30 October 2010
Dear Experts,
A company has dedcuted TDS during the year 2007-08 and 2008-09. Instead of depositing the tax monthly, it deposited in long intervals e.g. TDS decuted from Apr'07 to Dec' 07 was despoited in Mar'08 and like that. Although the company has paid interest for late payment as asked by the department, the the department further wants to initiate penalty proceeding u/s 221.
Is there any way out to avoid the penalty? Please advise with supporting case law if any.
A company has dedcuted TDS during the year 2007-08 and 2008-09. Instead of depositing the tax monthly, it deposited in long intervals e.g. TDS decuted from Apr'07 to Dec' 07 was despoited in Mar'08 and like that. Although the company has paid interest for late payment as asked by the department, the the department further wants to initiate penalty proceeding u/s 221.
Is there any way out to avoid the penalty? Please advise with supporting case law if any.
30 October 2010
First , what was the reason to make the deposit of tax so late instead of depositing on due dates.
If the reasons are acceptable, then there may be some way, otherwise penalty procedding is correctly initaited by the Deptt.
If the reasons are acceptable, then there may be some way, otherwise penalty procedding is correctly initaited by the Deptt.
Message likes :
1 times
30 October 2010
Dear Kesari,
1)As per law, the AO is extremly correct in levying the penalty and furthur u cant challenge him legally,
2)Reference of case law are generally taken when there is requirement of clarification on any law matters, otherwise it may not be so useful.
Advice :
According to me, the only way with u is "CONVENCING", try to convince the AO that penalty may cause "undue hardship or similar" with strong justification. If the Ao doesnt agree make an application to its juridicational superior officer.
1)As per law, the AO is extremly correct in levying the penalty and furthur u cant challenge him legally,
2)Reference of case law are generally taken when there is requirement of clarification on any law matters, otherwise it may not be so useful.
Advice :
According to me, the only way with u is "CONVENCING", try to convince the AO that penalty may cause "undue hardship or similar" with strong justification. If the Ao doesnt agree make an application to its juridicational superior officer.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
