https://www.taxtmi.com/caselaws?id=329133 The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s decision to cancel the penalty under section 271C. The ITAT ruled that hire purchase transactions and finance charges did not constitute interest for TDS purposes, in line with previous judicial decisions. The decision was based on a detailed analysis and reliance on legal precedents, leading to the dismissal of the Revenue's appeal. en-us Fri, 17 Jun 2016 00:00:00 +0530 Thu, 23 Jun 2016 13:06:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329133 The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s decision to cancel the penalty under section 271C. The ITAT ruled that hire purchase transactions and finance charges did not constitute interest for TDS purposes, in line with previous judicial decisions. The decision was based on a detailed analysis and reliance on legal precedents, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Fri, 17 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329133