https://www.taxtmi.com/caselaws?id=126793 The High Court upheld the Tribunal's decision in a case involving an assessee partnership firm acting as clearing and forwarding agents for airlines. The court ruled that the firm, functioning as an intermediary between exporters and airlines, was not obligated to deduct tax at source under section 194C of the Income-tax Act. Additionally, the court agreed with the Tribunal's finding that the assessee had a reasonable cause for not deducting tax at source, considering industry practices and expert advice. Consequently, no penalty was imposed on the assessee as both the Tribunal and High Court found a reasonable cause for the non-deduction of tax at source. en-us Tue, 25 Mar 2008 00:00:00 +0530 Fri, 29 Apr 2016 14:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126793 The High Court upheld the Tribunal's decision in a case involving an assessee partnership firm acting as clearing and forwarding agents for airlines. The court ruled that the firm, functioning as an intermediary between exporters and airlines, was not obligated to deduct tax at source under section 194C of the Income-tax Act. Additionally, the court agreed with the Tribunal's finding that the assessee had a reasonable cause for not deducting tax at source, considering industry practices and expert advice. Consequently, no penalty was imposed on the assessee as both the Tribunal and High Court found a reasonable cause for the non-deduction of tax at source. Case-Laws Income Tax Tue, 25 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126793