https://www.taxtmi.com/caselaws?id=347540 The Appellate Tribunal allowed the appeal of the assessee, canceling the penalty imposed for the short deduction of tax at source under Section 271C of the IT Act. The Tribunal acknowledged the assessee's bonafide belief and reasonable cause for the error, emphasizing the importance of seeking clarification and complying with departmental advice. The judgment underscored that penalties should not be levied when there is a genuine intention to rectify mistakes promptly and in good faith. en-us Thu, 31 Aug 2017 00:00:00 +0530 Sat, 18 Nov 2017 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347540 The Appellate Tribunal allowed the appeal of the assessee, canceling the penalty imposed for the short deduction of tax at source under Section 271C of the IT Act. The Tribunal acknowledged the assessee's bonafide belief and reasonable cause for the error, emphasizing the importance of seeking clarification and complying with departmental advice. The judgment underscored that penalties should not be levied when there is a genuine intention to rectify mistakes promptly and in good faith. Case-Laws Income Tax Thu, 31 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347540