Question ID :
43316
082701
If an expense say Interest or Professional charges are paid without TDS deduction. Can by Increasing Net profit by 1/3 of Expense We are not liable to any other penality.
Posted by
Mahesh Kumar
on
Jun 29, 2022
Filed Under
DIRECT TAXES
Answer ID :
81539
Yes, penalty cannot be imposed. Inference - CIT Vs Reliance Petro Chemicals P Ltd (2010) 322 ITR 158 (SC).
Posted by
B.CHACKRAPANI WARRIER on
Jul 09, 2022