https://www.taxtmi.com/caselaws?id=62527 The Appellate Tribunal ITAT Delhi overturned the fine imposed by the Commissioner of Income-tax on an assessee for not furnishing contract particulars in Form No. 52 within the specified time frame, citing substantial compliance and legal precedents. The Tribunal noted that the deletion of section 285A post the amendment of the Finance Act, 1988, rendered the requirement redundant as section 194C addressed tax deduction at source for contractors. Emphasizing judicial discretion in imposing penalties for statutory violations, the Tribunal allowed the appeal, highlighting the need for fair and judicious exercise of power in levying fines under section 285A. en-us Tue, 30 Jan 1990 00:00:00 +0530 Thu, 20 Jan 2011 12:50:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62527 The Appellate Tribunal ITAT Delhi overturned the fine imposed by the Commissioner of Income-tax on an assessee for not furnishing contract particulars in Form No. 52 within the specified time frame, citing substantial compliance and legal precedents. The Tribunal noted that the deletion of section 285A post the amendment of the Finance Act, 1988, rendered the requirement redundant as section 194C addressed tax deduction at source for contractors. Emphasizing judicial discretion in imposing penalties for statutory violations, the Tribunal allowed the appeal, highlighting the need for fair and judicious exercise of power in levying fines under section 285A. Case-Laws Income Tax Tue, 30 Jan 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62527