{"id":5531,"date":"2012-09-02T06:53:39","date_gmt":"2012-09-02T06:53:39","guid":{"rendered":"http:\/\/itatonline.org\/archives\/?p=5531"},"modified":"2012-09-03T04:10:15","modified_gmt":"2012-09-03T04:10:15","slug":"s-10a-exemption-s-197-tds-s-2711c-penalty","status":"publish","type":"post","link":"https:\/\/itatonline.org\/archives\/s-10a-exemption-s-197-tds-s-2711c-penalty\/","title":{"rendered":"S. 10A Exemption + S. 197 TDS + S. 271(1)(c) Penalty"},"content":{"rendered":"\n\n\n\n\n\n\n\n\n\n
CIT vs. TEI Technologies Pvt Ltd (Delhi High Court )<\/strong> Click here to download the judgement (TEI_Technologies_10A_exemption.pdf) <\/strong> <\/a><\/p><\/td>\n<\/tr>\n
S. 10A is an "exemption" provision even after the amendment and loss of non-10A unit cannot be set-off against s. 10A profits<\/em> <\/strong> <\/td>\n<\/tr>\n
S. 10A, even after the amendment by the FA 2000 w.e.f. 1.4.2001 is an "exemption" provision and the current years and the brought forward loss suffered by a non-EPZ unit cannot be set-off against the s. 10A unit’s profits (Yokogawa India Ltd<\/a><\/strong> 341 ITR 385 (Kar), Hindustan Unilever<\/strong> 325 ITR 102 (Bom) & Black and Veatch Consulting<\/a><\/strong> (Bom) referred). <\/td>\n<\/tr>\n
Serco BPO Pvt. Ltd vs. ACIT (Punjab & Haryana High Court) <\/strong> Click here to download the judgement (Serco_197_TDS.pdf) <\/strong> <\/a><\/p><\/td>\n<\/tr>\n
\n

S. 197 TDS application cannot be rejected for extraneous reasons <\/strong><\/em><\/p>\n<\/td>\n<\/tr>\n

\n

U\/s 197 read with Rule 28AA, the AO’s decision not to issue a s. 197 certificate for lower TDS on the ground that (a) the assessee had violated the TDS provisions & (b) s. 276B & 271(C) proceedings were pending is not correct as these issues are not relevant to s. 197 <\/p>\n<\/td>\n<\/tr>\n

CIT vs. Aditya Birla Nova Ltd (Bombay High Court )<\/strong>Click here to download the judgement (aditya_birla_penalty.pdf) <\/strong> <\/a><\/p><\/td>\n<\/tr>\n
Reliance Petroproducts 322 ITR 158 (SC) is not "per incuriam"<\/strong><\/em> <\/td>\n<\/tr>\n
The department’s argument that Explanation 1(B) to s. 271(1) mandates levy of penalty where a claim for deduction is not upheld, even though there is disclosure of material facts and that Reliance Petroproducts<\/strong> has not noticed Explanation-1 to s. 271(1) and is “per incuriam” is not acceptable because the entire s. 271(1) was considered.\n<\/td>\n<\/tr>\n<\/table>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

S. 10A, even after the amendment by the FA 2000 w.e.f. 1.4.2001 is an "exemption" provision and the current years and the brought forward loss suffered by a non-EPZ unit cannot be set-off against the s. 10A unit’s profits (Yokogawa India Ltd<\/a><\/strong> 341 ITR 385 (Kar), Hindustan Unilever<\/strong> 325 ITR 102 (Bom) & Black and Veatch Consulting<\/a><\/strong> (Bom) referred)<\/p>\n

Read more ›<\/a><\/div>\n

<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4,5],"tags":[],"class_list":["post-5531","post","type-post","status-publish","format-standard","hentry","category-all-judgements","category-high-court"],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts\/5531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/comments?post=5531"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts\/5531\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/media?parent=5531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/categories?post=5531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/tags?post=5531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}