No penalty if estimated addition made during block assessment wasn't based on materials found during search
IT: Where Assessing Officer passed penalty order under section 158BFA taking a view that undisclosed income assessed in case of assessee was in excess to undisclosed income shown in return of income, in view of fact that addition sustained remained only on estimate basis on account of gross profit on sales outside books of account and not on basis of any material found in possession of assessee during search proceedings, impugned penalty order was to be set aside
Extension of Due date of deposit of TDS / TCS for September 2014
The Central Board of Direct Taxes has issued an order to extend the last date of deposit of tax deducted at source/tax collected at source during the month of September, 2014 from 7th October, 2014 to 10th October, 2014 without entailing any consequential interest.
However, the due date for filing of TDS/TCS statements for the 2nd Quarter of the F.Y. 2014-15 shall remain the same.
The Press Release issued by CBDT is as follows :-
F.No. 385/10/2014-IT(B)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
PRESS RELEASE
1st October, 2014
Extension of the due date of deposit of tax deducted at source/tax collected at source during the month of September, 2014.
Considering the consecutive holidays owing to the festive season and weekend during the first week in the month of October, 2014, the Central Board of Direct Taxes has issued an order to extend the last date of deposit of tax deducted at source/tax collected at source during the month of September, 2014 from 7th October, 2014 to 10th October, 2014 without entailing any consequential interest.
- However, the due date for filing of TDS/TCS statements for the 2nd Quarter of the F.Y. 2014-15 shall remain the same.
(Rekha Shukla)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT
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