https://www.taxtmi.com/caselaws?id=255225 The Court ruled in favor of the respondent, a Public Sector Undertaking, in an appeal against penalties imposed under section 271C of the Income Tax Act for short deduction of tax on gift coupons distributed to employees. The Tribunal allowed the appeal, emphasizing the respondent's good faith belief that the gift coupons were not part of employees' salary but rather mementos linked to safety awards. The Court considered the respondent's past actions and the absence of intentional tax avoidance, ultimately dismissing the appeals against the cancellation of the penalty. en-us Fri, 19 Dec 2014 00:00:00 +0530 Mon, 12 Jan 2015 08:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255225 The Court ruled in favor of the respondent, a Public Sector Undertaking, in an appeal against penalties imposed under section 271C of the Income Tax Act for short deduction of tax on gift coupons distributed to employees. The Tribunal allowed the appeal, emphasizing the respondent's good faith belief that the gift coupons were not part of employees' salary but rather mementos linked to safety awards. The Court considered the respondent's past actions and the absence of intentional tax avoidance, ultimately dismissing the appeals against the cancellation of the penalty. Case-Laws Income Tax Fri, 19 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255225