TDS Defaulter is liable only for interest & penalty & not the tax: Allahabad High Court

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From: editor@itatonline.org <itatonline.org@gmail.com>
Date: Tue, May 29, 2012 at 9:49 AM
Subject: Message from EGroup of SolapurCAs TDS Defaulter is liable only for interest & penalty & not the tax: Allahabad High Court
To: editor@itatonline.org

 

Dear Subscriber,

 

The following important judgement is available for download at itatonline.org.

Jagran Prakashan Ltd vs. DCIT (TDS) (Allahabad High Court)

S. 194H: TDS Defaulter is liable only for interest & penalty & not the tax

 

The assessee, a publisher of newspapers, gave 10-15% trade discount to advertising agencies as per rules of the Indian Newspaper Society. The AO held that the said discount constituted "commission" and that the assessee ought to have deducted TDS u/s 194H and was liable as assessee-in-default u/s 201. The assessee filed a Writ Petition to challenge the said order. HELD by the High Court:

(Click Here To Read More)

Regards,

Editor,

itatonline.org

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