https://www.taxtmi.com/caselaws?id=206560 The Tribunal upheld the penalty imposed under section 221(1) on the assessee for non-payment of deducted tax, setting aside the CIT (Appeals) decision. It was determined that the assessing officer was not required to wait for the finalization of the quantum appeal under section 201(1) before imposing the penalty. The Tribunal emphasized that the liability to pay tax deducted at source arises by operation of law, and the penalty was justified as the assessee failed to pay the tax within the prescribed time. Both appeals by the Revenue were allowed, and the cross objection by the assessee was dismissed. en-us Fri, 16 Sep 2011 00:00:00 +0530 Mon, 07 Nov 2011 07:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206560 The Tribunal upheld the penalty imposed under section 221(1) on the assessee for non-payment of deducted tax, setting aside the CIT (Appeals) decision. It was determined that the assessing officer was not required to wait for the finalization of the quantum appeal under section 201(1) before imposing the penalty. The Tribunal emphasized that the liability to pay tax deducted at source arises by operation of law, and the penalty was justified as the assessee failed to pay the tax within the prescribed time. Both appeals by the Revenue were allowed, and the cross objection by the assessee was dismissed. Case-Laws Income Tax Fri, 16 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206560