https://www.taxtmi.com/caselaws?id=176356 The High Court of Delhi upheld the decision of the Income-tax Appellate Tribunal to reduce the penalty imposed on the assessee for failure to deposit TDS for the financial years 2001-02 and 2002-03 from 100% to 10% of the total tax. The court found that the assessee had cooperated with the Income-tax Department, eventually depositing the tax due, albeit with delay, and that there were no exceptional circumstances warranting the maximum penalty. The appeal by the revenue challenging the penalty reduction was dismissed, affirming the 10% penalty imposed by the Commissioner and Tribunal. en-us Mon, 06 Aug 2007 00:00:00 +0530 Sat, 19 Dec 2015 18:16:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176356 The High Court of Delhi upheld the decision of the Income-tax Appellate Tribunal to reduce the penalty imposed on the assessee for failure to deposit TDS for the financial years 2001-02 and 2002-03 from 100% to 10% of the total tax. The court found that the assessee had cooperated with the Income-tax Department, eventually depositing the tax due, albeit with delay, and that there were no exceptional circumstances warranting the maximum penalty. The appeal by the revenue challenging the penalty reduction was dismissed, affirming the 10% penalty imposed by the Commissioner and Tribunal. Case-Laws Income Tax Mon, 06 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176356