https://www.taxtmi.com/caselaws?id=234673 The Tribunal dismissed the Revenue's appeal and affirmed the CIT(A)'s decision to cancel the penalty order under section 271C. The Tribunal held that the assessee's bonafide belief constituted a "reasonable cause" for not deducting tax at source, emphasizing the importance of compliance with tax provisions. The judgment underscored the significance of genuine belief and adherence to tax laws, ultimately supporting the assessee's stance in the matter. en-us Fri, 31 May 2013 00:00:00 +0530 Sat, 22 Jun 2013 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234673 The Tribunal dismissed the Revenue's appeal and affirmed the CIT(A)'s decision to cancel the penalty order under section 271C. The Tribunal held that the assessee's bonafide belief constituted a "reasonable cause" for not deducting tax at source, emphasizing the importance of compliance with tax provisions. The judgment underscored the significance of genuine belief and adherence to tax laws, ultimately supporting the assessee's stance in the matter. Case-Laws Income Tax Fri, 31 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234673