https://www.taxtmi.com/caselaws?id=269871 The Tribunal upheld the Commissioner of Income-tax (Appeals)' decision, emphasizing the genuine financial constraints faced by the assessee and dismissing the Revenue's appeals against the penalty imposition for delayed TDS remittance. The penalties imposed by the Assessing Officer for delayed remittance of TDS for the assessment years 2012-13 and 2013-14 were deleted based on the genuine cash flow problems experienced by the assessee, leading to the affirmation of the decision to not levy penalties under Section 221 of the Act. en-us Tue, 01 Dec 2015 00:00:00 +0530 Wed, 23 Dec 2015 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269871 The Tribunal upheld the Commissioner of Income-tax (Appeals)' decision, emphasizing the genuine financial constraints faced by the assessee and dismissing the Revenue's appeals against the penalty imposition for delayed TDS remittance. The penalties imposed by the Assessing Officer for delayed remittance of TDS for the assessment years 2012-13 and 2013-14 were deleted based on the genuine cash flow problems experienced by the assessee, leading to the affirmation of the decision to not levy penalties under Section 221 of the Act. Case-Laws Income Tax Tue, 01 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269871