{"id":14602,"date":"2020-12-23T11:31:10","date_gmt":"2020-12-23T11:31:10","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-national-stock-exchange-2020-the-chambers-journal-september-p-107-bom-hc\/"},"modified":"2020-12-23T11:31:10","modified_gmt":"2020-12-23T11:31:10","slug":"pcit-v-national-stock-exchange-2020-the-chambers-journal-september-p-107-bom-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-national-stock-exchange-2020-the-chambers-journal-september-p-107-bom-hc\/","title":{"rendered":"PCIT v. National Stock Exchange ( 2020) The Chamber\u2019s Journal \u2013 September -P. 107 ( Bom) (HC)"},"content":{"rendered":"<p>The AO levied the penalty u\/s 105 of the Finance Act , 2004\u00a0 dealing with\u00a0 non-collection and non -deposit of the Securities Transaction Tax (STT) at the rates stipulated .\u00a0 CIT (A) deleted the addition which was affirmed by the Tribunal. On appeal the Court held that the Assessing Officer must come to the conclusion that\u00a0 there was deliberate defiance of the law by the assessee . On facts the Tribunal is justified in deleting the penalty\u00a0 (ITA No. 1171 of 2017 dt . 3-2- 2020 ) (AY. 2006 -07)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Securities Transaction Tax  ( STT) -Finance Act, 2004 <\/p>\n<p>S.105: Penalty for non collection and non -deposit of STT-  Imposition of penalty is not automatic-  Deletion of penalty is held to be justified .[ S.100 , 108 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","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":""},"categories":[21],"tags":[],"class_list":["post-14602","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3Nw","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=14602"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14602\/revisions"}],"predecessor-version":[{"id":14603,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14602\/revisions\/14603"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}