November 2018

Section 140A(3) and 221 AO was not justified in levying penalty u/s. 140A(3) r.w.s. 221(1) for failure to pay self-assessment tax as per the provisions of section 140A(3) as amended w.e.f. 1st April, 1989 as the amended section 140A(3) does not envisage any penalty for non-payment of self-assessment tax

JAGDISH T. PUNJABI | DEVENDRA JAIN | TEJASWINI GHAG
Chartered Accountants

10.  [2018] 195 TTJ 536 (Mumbai Trib.)

Heddle Knowledge P (Ltd) vs. ITO

ITA No.: 7509/Mum/2011

A. Y.: 2009-10.                                   

Dated: 19th January, 2018.

 

Section 140A(3) and 221 AO was not justified in levying penalty u/s. 140A(3) r.w.s. 221(1) for failure to pay self-assessment tax as per the provisions of section 140A(3) as amended w.e.f. 1st April, 1989 as the amended section 140A(3) does not envisage any penalty for non-payment of self-assessment tax 

 

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