https://www.taxtmi.com/caselaws?id=254903 The appellant challenged a penalty imposed under Section 272A(2)(c) of the Income Tax Act for delay in filing the annual return. The Tribunal upheld the penalty, but the Commissioner of Income Tax (Appeals) directed to restrict it to the tax deducted at source. The Tribunal affirmed this decision, considering the penalty should be limited to the TDS deductible amount. The Tribunal and High Court found that the amendments to the penalty provisions were clarificatory in nature, aimed at easing taxpayer hardships, and applicable to pending cases, thereby upholding the decision in favor of the assessee. en-us Mon, 03 Nov 2014 00:00:00 +0530 Sat, 03 Jan 2015 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254903 The appellant challenged a penalty imposed under Section 272A(2)(c) of the Income Tax Act for delay in filing the annual return. The Tribunal upheld the penalty, but the Commissioner of Income Tax (Appeals) directed to restrict it to the tax deducted at source. The Tribunal affirmed this decision, considering the penalty should be limited to the TDS deductible amount. The Tribunal and High Court found that the amendments to the penalty provisions were clarificatory in nature, aimed at easing taxpayer hardships, and applicable to pending cases, thereby upholding the decision in favor of the assessee. Case-Laws Income Tax Mon, 03 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254903