https://www.taxtmi.com/caselaws?id=178432 The ITAT canceled the penalty imposed under Section 271C of the Income Tax Act, ruling in favor of the appellant trust. The appellant's failure to deduct tax at source on godown rent payments to a family trust was deemed to have a reasonable cause as the taxes were paid by the payee and interest under Section 201(1A) was also settled. The ITAT found no loss to the Revenue and emphasized the requirement of "reasonable cause" for non-compliance with TDS provisions, ultimately setting aside the penalty orders. en-us Fri, 21 Jan 2011 00:00:00 +0530 Thu, 04 Feb 2016 17:12:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178432 The ITAT canceled the penalty imposed under Section 271C of the Income Tax Act, ruling in favor of the appellant trust. The appellant's failure to deduct tax at source on godown rent payments to a family trust was deemed to have a reasonable cause as the taxes were paid by the payee and interest under Section 201(1A) was also settled. The ITAT found no loss to the Revenue and emphasized the requirement of "reasonable cause" for non-compliance with TDS provisions, ultimately setting aside the penalty orders. Case-Laws Income Tax Fri, 21 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178432