https://www.taxtmi.com/caselaws?id=254581 The Tribunal ruled in favor of the assessee, determining that payments for hiring buses should be classified under Section 194C of the Income Tax Act, 1961, rather than Section 194I. It found that the penalty under Section 271(1)(c) for lower TDS deduction was not applicable due to the correct classification. The decision highlighted the importance of natural justice principles and relied on consistent legal interpretations and precedents to support the assessee's position. en-us Mon, 22 Dec 2014 00:00:00 +0530 Fri, 22 May 2015 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254581 The Tribunal ruled in favor of the assessee, determining that payments for hiring buses should be classified under Section 194C of the Income Tax Act, 1961, rather than Section 194I. It found that the penalty under Section 271(1)(c) for lower TDS deduction was not applicable due to the correct classification. The decision highlighted the importance of natural justice principles and relied on consistent legal interpretations and precedents to support the assessee's position. Case-Laws Income Tax Mon, 22 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254581