https://www.taxtmi.com/caselaws?id=180012 The Tax Appeal challenging the cancellation of penalty under Section 271(1)(c) of the Income Tax Act was dismissed. The Court upheld the decision of the Appellate Tribunal, emphasizing the genuine mistake by the assessee in failing to deduct TDS under Section 40(a)(ia). Both the Tribunal and CIT(A) found no concealment or inaccurate particulars, attributing the TDS omission to a bonafide error. The Court concluded that the Revenue failed to establish grounds for challenging the findings, leading to the dismissal of the appeal due to the absence of concealment or inaccurate particulars and the genuine explanation provided by the assessee. en-us Mon, 29 Aug 2011 00:00:00 +0530 Tue, 07 Aug 2018 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180012 The Tax Appeal challenging the cancellation of penalty under Section 271(1)(c) of the Income Tax Act was dismissed. The Court upheld the decision of the Appellate Tribunal, emphasizing the genuine mistake by the assessee in failing to deduct TDS under Section 40(a)(ia). Both the Tribunal and CIT(A) found no concealment or inaccurate particulars, attributing the TDS omission to a bonafide error. The Court concluded that the Revenue failed to establish grounds for challenging the findings, leading to the dismissal of the appeal due to the absence of concealment or inaccurate particulars and the genuine explanation provided by the assessee. Case-Laws Income Tax Mon, 29 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180012