https://www.taxtmi.com/caselaws?id=69097 The Tribunal ruled in ITA No. 273/MDS/99 that the imposition of a penalty under section 271C for failure to deduct tax at source under section 194B was unjustified as the scheme in question did not constitute a lottery. The penalty was canceled as the essential elements of a lottery, including consideration paid for a chance and the risk of loss, were found to be absent. In ITA No. 274/MDS/99, the charging of interest under section 201(1A) was also deemed inapplicable as the Deputy Director was not considered an assessee in default under section 201(1A) due to lack of responsibility in managing the gifts. The appeals by the assessee were allowed. en-us Tue, 27 Jul 1999 00:00:00 +0530 Tue, 05 Apr 2011 11:48:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69097 The Tribunal ruled in ITA No. 273/MDS/99 that the imposition of a penalty under section 271C for failure to deduct tax at source under section 194B was unjustified as the scheme in question did not constitute a lottery. The penalty was canceled as the essential elements of a lottery, including consideration paid for a chance and the risk of loss, were found to be absent. In ITA No. 274/MDS/99, the charging of interest under section 201(1A) was also deemed inapplicable as the Deputy Director was not considered an assessee in default under section 201(1A) due to lack of responsibility in managing the gifts. The appeals by the assessee were allowed. Case-Laws Income Tax Tue, 27 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69097