Deposit of TDS Deducted with Interest: Bombay HC quashes Criminal Proceedings against Directors [Read Order]
The directors argued that they were not principal officers and could only be held vicariously liable if they met the statutory requirements of Section 278B
By Manu Sharma - On August 19, 2024 3:40 pm - 2 mins read
The Bombay High Court has annulled the legal proceedings initiated against the directors of M/s. Hubtown Ltd. under Sections 276B and 278B of the Income Tax Act. This action followed a belated deposit of TDS, despite the company having already rectified this by depositing the same with accrued interest as stipulated in section 201(1A) of…
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