https://www.taxtmi.com/caselaws?id=261994 The court set aside the Income Tax Appellate Tribunal's order that had overturned penalties under Section 271C for failure to deduct tax at source. The court emphasized that proving a "reasonable cause" under Section 273B is the only way to escape such penalties, rejecting arguments of ignorance of the law and lack of awareness of tax deduction obligations. The court held in favor of the Revenue, emphasizing that factors such as the firm's tax liability or declaration of income were irrelevant in determining liability for penalties under Section 271C. en-us Fri, 03 Jul 2015 00:00:00 +0530 Wed, 29 Jul 2015 07:47:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261994 The court set aside the Income Tax Appellate Tribunal's order that had overturned penalties under Section 271C for failure to deduct tax at source. The court emphasized that proving a "reasonable cause" under Section 273B is the only way to escape such penalties, rejecting arguments of ignorance of the law and lack of awareness of tax deduction obligations. The court held in favor of the Revenue, emphasizing that factors such as the firm's tax liability or declaration of income were irrelevant in determining liability for penalties under Section 271C. Case-Laws Income Tax Fri, 03 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261994