https://www.taxtmi.com/caselaws?id=325634 The Tribunal allowed the appeals for the Assessment Years 2008-09 and 2010-11 while partially allowing the appeal for the Assessment Year 2009-10. The penalty was deleted for the TDS defaults on advertisement and salary, with the penalty upheld for the AMC charges default. The decision emphasized the importance of valid explanations and prompt corrective actions in determining the applicability of penalties under section 271C of the Income Tax Act, 1961. en-us Tue, 09 Feb 2016 00:00:00 +0530 Fri, 25 Mar 2016 09:35:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325634 The Tribunal allowed the appeals for the Assessment Years 2008-09 and 2010-11 while partially allowing the appeal for the Assessment Year 2009-10. The penalty was deleted for the TDS defaults on advertisement and salary, with the penalty upheld for the AMC charges default. The decision emphasized the importance of valid explanations and prompt corrective actions in determining the applicability of penalties under section 271C of the Income Tax Act, 1961. Case-Laws Income Tax Tue, 09 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325634