https://www.taxtmi.com/caselaws?id=181402 The Tribunal upheld the CIT(A)'s decision to cancel penalties imposed under section 271(1)(c) of the Income Tax Act for AY 1996-97, 1998-99, and 1999-2000. It was found that the non-deduction of tax at source on royalty payments by the engineering company was a bona fide mistake and not an attempt to conceal income. The Tribunal emphasized that the disallowance of the deduction was technical and did not warrant penalties, as the assessee had promptly rectified the error upon identification. en-us Fri, 30 Jul 2010 00:00:00 +0530 Sat, 16 Apr 2016 12:00:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181402 The Tribunal upheld the CIT(A)'s decision to cancel penalties imposed under section 271(1)(c) of the Income Tax Act for AY 1996-97, 1998-99, and 1999-2000. It was found that the non-deduction of tax at source on royalty payments by the engineering company was a bona fide mistake and not an attempt to conceal income. The Tribunal emphasized that the disallowance of the deduction was technical and did not warrant penalties, as the assessee had promptly rectified the error upon identification. Case-Laws Income Tax Fri, 30 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181402